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

BioAtla, Inc. (NASDAQ:BCAB) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 4,870,000 shares, a decline of 7.1% from the October 15th total of 5,240,000 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is presently 4.0 days.

BioAtla Price Performance

Shares of BioAtla stock opened at $1.51 on Tuesday. BioAtla has a 12 month low of $1.14 and a 12 month high of $4.02. The business has a 50 day simple moving average of $1.91 and a two-hundred day simple moving average of $1.85.

BioAtla (NASDAQ:BCAB) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.12. The company had revenue of $11.00 million during the quarter. During the same period in the prior year, the firm posted ($0.70) EPS. On average, research analysts predict that BioAtla will post -1.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in shares of BioAtla in the 2nd quarter valued at about $872,000. Scion Asset Management LLC acquired a new stake in shares of BioAtla during the second quarter worth $869,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of BioAtla in the first quarter valued at about $45,000. Acadian Asset Management LLC boosted its holdings in BioAtla by 57.6% in the 1st quarter. Acadian Asset Management LLC now owns 155,188 shares of the company’s stock valued at $532,000 after purchasing an additional 56,748 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in BioAtla during the first quarter worth $103,000. 77.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BCAB. HC Wainwright lowered BioAtla from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $5.00 price target on shares of BioAtla in a research note on Monday, September 16th.

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.