BioAtla, Inc. (NASDAQ:BCAB) Short Interest Up 22.9% in March

BioAtla, Inc. (NASDAQ:BCAB) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 2,365,733 shares, a growth of 22.9% from the March 15th total of 1,924,850 shares. Currently, 211.2% of the shares of the stock are sold short. Based on an average trading volume of 1,292,068 shares, the short-interest ratio is presently 1.8 days.

BioAtla Trading Down 6.4%

Shares of BioAtla stock opened at $4.60 on Friday. The stock has a market capitalization of $7.63 million, a price-to-earnings ratio of -0.09 and a beta of 1.22. The firm’s 50-day moving average price is $7.87 and its two-hundred day moving average price is $24.22. BioAtla has a 1-year low of $3.92 and a 1-year high of $71.50.

BioAtla (NASDAQ:BCAB) last announced its earnings results on Tuesday, March 31st. The company reported ($8.00) EPS for the quarter, topping the consensus estimate of ($18.00) by $10.00. The business had revenue of $2.00 million during the quarter, compared to analyst estimates of $0.70 million. As a group, equities research analysts predict that BioAtla will post -1.46 EPS for the current year.

Wall Street Analyst Weigh In

BCAB has been the topic of a number of analyst reports. Rodman & Renshaw began coverage on shares of BioAtla in a research note on Tuesday, January 13th. They issued a “buy” rating and a $200.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioAtla in a report on Friday, January 9th. Finally, Wall Street Zen upgraded BioAtla to a “hold” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $200.00.

Institutional Trading of BioAtla

Several hedge funds have recently modified their holdings of BCAB. Woodline Partners LP bought a new position in BioAtla in the 1st quarter worth approximately $26,000. Sheets Smith Investment Management acquired a new stake in shares of BioAtla in the 3rd quarter valued at $46,000. ADAR1 Capital Management LLC acquired a new stake in shares of BioAtla in the 4th quarter valued at $104,000. Susquehanna International Group LLP raised its position in shares of BioAtla by 237.6% during the third quarter. Susquehanna International Group LLP now owns 252,583 shares of the company’s stock worth $174,000 after acquiring an additional 177,760 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of BioAtla by 55.4% during the fourth quarter. Jane Street Group LLC now owns 346,774 shares of the company’s stock worth $197,000 after acquiring an additional 123,597 shares during the last quarter. 77.23% of the stock is owned by institutional investors.

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.