BioAtla, Inc. (NASDAQ:BCAB) Short Interest Down 95.2% in April
by Kim Johansen · The Markets DailyBioAtla, Inc. (NASDAQ:BCAB – Get Free Report) saw a large drop in short interest in April. As of April 15th, there was short interest totaling 113,264 shares, a drop of 95.2% from the March 31st total of 2,365,733 shares. Based on an average daily trading volume, of 68,594 shares, the short-interest ratio is currently 1.7 days. Approximately 7.7% of the company’s stock are sold short.
Hedge Funds Weigh In On BioAtla
A number of institutional investors and hedge funds have recently modified their holdings of BCAB. Acadian Asset Management LLC boosted its stake in shares of BioAtla by 968.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,690,110 shares of the company’s stock worth $585,000 after buying an additional 1,531,994 shares during the last quarter. Marshall Wace LLP purchased a new position in BioAtla during the fourth quarter valued at $508,000. Millennium Management LLC lifted its position in BioAtla by 123.4% during the fourth quarter. Millennium Management LLC now owns 762,394 shares of the company’s stock valued at $433,000 after purchasing an additional 421,072 shares in the last quarter. ADAR1 Capital Management LLC purchased a new position in BioAtla during the fourth quarter valued at $104,000. Finally, Susquehanna International Group LLP lifted its position in BioAtla by 237.6% during the third quarter. Susquehanna International Group LLP now owns 252,583 shares of the company’s stock valued at $174,000 after purchasing an additional 177,760 shares in the last quarter. 77.23% of the stock is currently owned by hedge funds and other institutional investors.
BioAtla Stock Performance
Shares of BCAB stock traded down $0.29 on Friday, reaching $4.87. The stock had a trading volume of 17,485 shares, compared to its average volume of 49,346. The stock has a market cap of $8.08 million, a P/E ratio of -0.10 and a beta of 1.22. BioAtla has a 1 year low of $3.92 and a 1 year high of $71.50. The company has a 50 day simple moving average of $7.46 and a 200 day simple moving average of $23.23.
BioAtla (NASDAQ:BCAB – Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($8.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($18.00) by $10.00. The firm had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $0.70 million.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Wall Street Zen raised BioAtla to a “hold” rating in a research report on Saturday, April 11th. Rodman & Renshaw started coverage on BioAtla in a research note on Tuesday, January 13th. They set a “buy” rating and a $200.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BioAtla in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $200.00.
Check Out Our Latest Report on BCAB
BioAtla Company Profile
BioAtla, Inc (NASDAQ: BCAB) is a clinical‐stage biotechnology company focused on the development of conditionally active biologics (CABs) for oncology and other serious diseases. Utilizing its proprietary CAB technology platform, BioAtla engineers monoclonal antibodies, bispecifics and antibody-drug conjugates that remain inactive in healthy tissues but become activated in the tumor microenvironment. This targeted approach aims to improve therapeutic index by enhancing anti‐tumor potency while minimizing off-target effects and systemic toxicity.
Founded in 2012 and headquartered in San Diego, California, BioAtla has advanced multiple product candidates into clinical trials.