BioAtla, Inc. (NASDAQ:BCAB) Sees Significant Drop in Short Interest

BioAtla, Inc. (NASDAQ:BCAB) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 4,140,000 shares, a decrease of 15.0% from the October 31st total of 4,870,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. HC Wainwright cut BioAtla from a “buy” rating to a “neutral” rating in a report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and set a $5.00 target price on shares of BioAtla in a report on Monday, September 16th.

Institutional Investors Weigh In On BioAtla

Several hedge funds have recently made changes to their positions in BCAB. Vontobel Holding Ltd. acquired a new stake in shares of BioAtla during the third quarter worth $28,000. Ground Swell Capital LLC acquired a new position in BioAtla in the second quarter valued at $33,000. Valmark Advisers Inc. acquired a new position in BioAtla in the second quarter valued at $34,000. Rinkey Investments acquired a new position in BioAtla in the second quarter valued at $35,000. Finally, Chicago Partners Investment Group LLC acquired a new position in BioAtla in the third quarter valued at $44,000. Institutional investors and hedge funds own 77.23% of the company’s stock.

BioAtla Stock Up 2.4 %

Shares of BCAB stock traded up $0.04 during mid-day trading on Friday, hitting $1.68. 270,431 shares of the company’s stock were exchanged, compared to its average volume of 857,046. BioAtla has a fifty-two week low of $1.14 and a fifty-two week high of $4.02. The stock has a 50-day simple moving average of $1.88 and a two-hundred day simple moving average of $1.77. The stock has a market cap of $81.23 million, a price-to-earnings ratio of -0.99 and a beta of 1.03.

BioAtla (NASDAQ:BCAB) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.12. The business had revenue of $11.00 million for the quarter. During the same quarter last year, the business earned ($0.70) EPS. As a group, analysts anticipate that BioAtla will post -1.49 earnings per share for the current fiscal year.

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.