WuXi AppTec Co. Ltd. Makes New $151,000 Investment in Purple Biotech Ltd (NASDAQ:PPBT)

WuXi AppTec Co. Ltd. purchased a new stake in Purple Biotech Ltd (NASDAQ:PPBT) during the 4th quarter, HoldingsChannel reports. The firm purchased 194,139 shares of the company’s stock, valued at approximately $151,000. Purple Biotech accounts for about 0.4% of WuXi AppTec Co. Ltd.’s portfolio, making the stock its 4th biggest position.

Separately, Kingswood Wealth Advisors LLC increased its holdings in shares of Purple Biotech by 34.0% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 175,100 shares of the company’s stock worth $137,000 after purchasing an additional 44,450 shares during the period. 9.64% of the stock is currently owned by institutional investors.

Purple Biotech Stock Up 7.8 %

PPBT traded up $0.04 during trading on Wednesday, reaching $0.55. 62,153 shares of the company’s stock were exchanged, compared to its average volume of 131,474. Purple Biotech Ltd has a fifty-two week low of $0.30 and a fifty-two week high of $1.99. The company has a market capitalization of $13.87 million, a P/E ratio of -0.55 and a beta of 1.01. The business has a 50 day moving average price of $0.64 and a 200 day moving average price of $0.81.

Purple Biotech (NASDAQ:PPBT) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). As a group, research analysts forecast that Purple Biotech Ltd will post -0.46 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Purple Biotech in a research report on Friday, April 26th.

About Purple Biotech

Purple Biotech Ltd., a clinical-stage company, focuses on developing therapies to overcome tumor immune evasion and drug resistance for cancer patients in the United States. Its oncology pipeline includes CM24, a humanized monoclonal antibody that blocks the interactions of carcinoembryonic antigen related cell adhesion molecule 1 as a combination therapy with anti-PD-1 checkpoint inhibitors, which is in Phase 2 clinical trial for the treatment of pancreatic ductal adenocarcinoma; NT219, a small molecule that targets and inhibits insulin receptor substrate 1 and 2, and signal transducer and activator of transcription, which is in Phase 1/2 clinical trials for the treatment recurrent and/or metastatic squamous cell carcinoma of the head and neck cancer or colorectal adenocarcinoma; and IM1240, a multi-valent antibody designed to activate anti-tumoral immune response against 5T4-positive tumors, which is in preclinical stage.