BioAtla (NASDAQ:BCAB) Issues Quarterly Earnings Results

BioAtla (NASDAQ:BCAB) released its earnings results on Thursday. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.04, Zacks reports.

BioAtla Stock Down 4.1%

BCAB stock traded down $0.03 during trading on Thursday, reaching $0.66. 1,105,972 shares of the company’s stock were exchanged, compared to its average volume of 806,976. BioAtla has a 1-year low of $0.24 and a 1-year high of $2.05. The firm has a market cap of $38.74 million, a PE ratio of -0.60 and a beta of 1.04. The company’s fifty day moving average price is $0.71 and its 200-day moving average price is $0.51.

Hedge Funds Weigh In On BioAtla

Several large investors have recently bought and sold shares of the stock. Woodline Partners LP purchased a new stake in BioAtla during the first quarter valued at about $26,000. Acadian Asset Management LLC raised its holdings in shares of BioAtla by 968.9% during the first quarter. Acadian Asset Management LLC now owns 1,690,110 shares of the company’s stock valued at $585,000 after acquiring an additional 1,531,994 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of BioAtla by 9.1% during the third quarter. Vanguard Group Inc. now owns 1,945,795 shares of the company’s stock valued at $1,339,000 after acquiring an additional 162,647 shares during the period. Institutional investors and hedge funds own 77.23% of the company’s stock.

Analyst Ratings Changes

BCAB has been the subject of a number of research reports. Wall Street Zen upgraded BioAtla to a “sell” rating in a research note on Saturday, September 6th. Citizens Jmp lowered BioAtla from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 13th. JMP Securities reaffirmed a “market perform” rating on shares of BioAtla in a report on Wednesday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BioAtla in a research report on Tuesday, October 14th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce”.

About BioAtla

BioAtla, Inc, a clinical-stage biopharmaceutical company, develops specific and selective antibody-based therapeutics for the treatment of solid tumor cancer. The company's lead clinical stage product candidates include mecbotamab vedotin (BA3011), a conditionally active biologic (CAB) antibody-drug conjugate (ADC), which is in Phase II clinical trial for treating undifferentiated pleomorphic sarcoma and non-small cell lung cancer (NSCLC); and ozuriftabmab vedotin (BA3021), a CAB ADC that is in Phase II clinical trial for the treatment of melanoma and squamous cell cancer of the head and neck.