BioAtla (NASDAQ:BCAB) Price Target Lowered to $5.00 at JMP Securities

BioAtla (NASDAQ:BCAB) had its price target cut by JMP Securities from $12.00 to $5.00 in a report issued on Thursday, Benzinga reports. They currently have a market outperform rating on the stock.

Separately, HC Wainwright restated a buy rating and issued a $7.00 price target on shares of BioAtla in a research note on Wednesday, May 15th.

BioAtla Price Performance

Shares of NASDAQ BCAB opened at $1.71 on Thursday. The stock has a market capitalization of $82.29 million, a price-to-earnings ratio of -0.69 and a beta of 1.23. The firm’s 50 day simple moving average is $2.84 and its 200-day simple moving average is $2.42. BioAtla has a 12 month low of $1.24 and a 12 month high of $4.02.

BioAtla (NASDAQ:BCAB) last released its quarterly earnings results on Tuesday, March 26th. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.12. Analysts anticipate that BioAtla will post -1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioAtla

A number of institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. purchased a new position in BioAtla during the third quarter valued at $90,000. Formidable Asset Management LLC raised its position in shares of BioAtla by 79.0% during the 3rd quarter. Formidable Asset Management LLC now owns 162,794 shares of the company’s stock worth $277,000 after purchasing an additional 71,859 shares during the last quarter. Sectoral Asset Management Inc. lifted its stake in BioAtla by 26.9% in the 3rd quarter. Sectoral Asset Management Inc. now owns 706,062 shares of the company’s stock valued at $1,200,000 after buying an additional 149,544 shares in the last quarter. Pale Fire Capital SE boosted its holdings in BioAtla by 204.6% in the 4th quarter. Pale Fire Capital SE now owns 48,383 shares of the company’s stock worth $119,000 after buying an additional 32,500 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in BioAtla during the 4th quarter worth approximately $180,000. Institutional investors and hedge funds own 77.23% of the company’s stock.

BioAtla Company Profile

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.