BioAtla, Inc. (NASDAQ:BCAB) Sees Large Increase in Short Interest

BioAtla, Inc. (NASDAQ:BCAB) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 4,400,000 shares, a growth of 11.4% from the December 15th total of 3,950,000 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 3.9 days.

Institutional Trading of BioAtla

Hedge funds have recently modified their holdings of the company. Vontobel Holding Ltd. bought a new stake in BioAtla in the third quarter valued at approximately $28,000. Magnus Financial Group LLC acquired a new stake in BioAtla during the 4th quarter worth $28,000. Chicago Partners Investment Group LLC bought a new position in BioAtla during the third quarter worth about $44,000. American Century Companies Inc. grew its stake in BioAtla by 36.1% in the second quarter. American Century Companies Inc. now owns 43,391 shares of the company’s stock valued at $59,000 after acquiring an additional 11,503 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioAtla in the second quarter worth about $99,000. 77.23% of the stock is currently owned by institutional investors and hedge funds.

BioAtla Trading Up 1.5 %

NASDAQ BCAB traded up $0.01 during trading hours on Friday, hitting $0.49. The company’s stock had a trading volume of 373,650 shares, compared to its average volume of 1,483,387. BioAtla has a twelve month low of $0.45 and a twelve month high of $4.02. The stock has a fifty day moving average of $1.17 and a 200 day moving average of $1.57.

BioAtla (NASDAQ:BCAB) last posted its quarterly earnings results 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 company had revenue of $11.00 million during the quarter. During the same quarter in the prior year, the company earned ($0.70) EPS. On average, analysts predict that BioAtla will post -1.46 EPS for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright lowered BioAtla from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 13th.

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.