Short Interest in BioAtla, Inc. (NASDAQ:BCAB) Rises By 18.8%

BioAtla, Inc. (NASDAQ:BCAB) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 4,750,000 shares, an increase of 18.8% from the July 31st total of 4,000,000 shares. Based on an average trading volume of 955,100 shares, the days-to-cover ratio is currently 5.0 days.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BCAB. JMP Securities reduced their target price on shares of BioAtla from $12.00 to $5.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 23rd. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of BioAtla in a research note on Wednesday, May 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD bought a new position in BioAtla during the 1st quarter worth about $45,000. Ground Swell Capital LLC bought a new position in BioAtla during the 2nd quarter worth about $33,000. Valmark Advisers Inc. bought a new position in BioAtla during the 2nd quarter worth about $34,000. Rinkey Investments bought a new position in BioAtla during the 2nd quarter worth about $35,000. Finally, Virtu Financial LLC bought a new position in BioAtla during the 1st quarter worth about $103,000. 77.23% of the stock is currently owned by institutional investors.

BioAtla Stock Down 2.7 %

BCAB stock traded down $0.05 during trading on Friday, hitting $1.77. The company had a trading volume of 457,341 shares, compared to its average volume of 723,595. The firm has a market capitalization of $85.17 million, a P/E ratio of -0.71 and a beta of 1.06. BioAtla has a 52-week low of $1.14 and a 52-week high of $4.02. The company has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $2.20.

BioAtla (NASDAQ:BCAB) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.01. During the same quarter in the previous year, the company posted ($0.75) earnings per share. Sell-side analysts forecast that BioAtla will post -1.6 earnings per share for the current year.

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.