Purple Biotech (Purple Biotech) Momentum Rank : 1 (As of May. 01, 2024)

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What is Purple Biotech Momentum Rank?

Purple Biotech has the Momentum Rank of 1.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Purple Biotech's Momentum Rank

For the Biotechnology subindustry, Purple Biotech's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Purple Biotech's Momentum Rank Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Purple Biotech's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Purple Biotech's Momentum Rank falls into.

Purple Biotech Momentum Rank Related Terms

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Purple Biotech (Purple Biotech) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Purple Biotech Ltd (NAS:PPBT) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

PPBT:Israel 1YI1:Germany

Address

4 Oppenheimer Street, Science Park, Rehovot, ISR, 7670104

Website

https://www.purple-biotech.com

Purple Biotech Ltd is a clinical-stage company focused on advancing first-in-class therapies to overcome tumor immune evasion and drug resistance, and to create treatments for people with cancer. Its oncology pipeline includes NT219 and CM24.