BioAtla (NASDAQ:BCAB) Releases Quarterly Earnings Results, Beats Estimates By $8.64 EPS

BioAtla (NASDAQ:BCAB) issued its quarterly earnings results on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($8.50) by $8.64, Zacks reports. The business had revenue of $6.50 million during the quarter.

BioAtla Trading Down 10.4%

BioAtla stock opened at $3.09 on Friday. BioAtla has a 12 month low of $3.00 and a 12 month high of $71.50. The company has a market capitalization of $5.13 million, a price-to-earnings ratio of -0.12 and a beta of 0.78. The business’s fifty day simple moving average is $3.65 and its two-hundred day simple moving average is $5.84.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioAtla in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BioAtla currently has a consensus rating of “Hold” and an average target price of $200.00.

Hedge Funds Weigh In On BioAtla

Large investors have recently modified their holdings of the stock. Woodline Partners LP bought a new position in BioAtla in the 1st quarter worth about $26,000. Acadian Asset Management LLC lifted its stake in shares of BioAtla by 968.9% in the first 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 in the last quarter. Vanguard Group Inc. grew 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 buying an additional 162,647 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of BioAtla during the third quarter valued at approximately $235,000. Finally, Susquehanna International Group LLP increased 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 valued at $174,000 after acquiring an additional 177,760 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

About BioAtla

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.