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 trading volume of 1,190,000 shares, the short-interest ratio is presently 3.5 days.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On BioAtla

Hedge funds have recently bought and sold shares of the company. Vontobel Holding Ltd. purchased a new position in BioAtla in the 3rd quarter valued at approximately $28,000. Ground Swell Capital LLC purchased a new position in BioAtla in the 2nd quarter valued at approximately $33,000. Valmark Advisers Inc. purchased a new position in BioAtla in the 2nd quarter valued at approximately $34,000. Rinkey Investments purchased a new position in BioAtla in the 2nd quarter valued at approximately $35,000. Finally, Chicago Partners Investment Group LLC purchased a new position in BioAtla in the 3rd quarter valued at approximately $44,000. 77.23% of the stock is owned by hedge funds and other institutional investors.

BioAtla Price Performance

Shares of BCAB stock traded up $0.04 during trading hours on Friday, reaching $1.68. 270,431 shares of the company’s stock were exchanged, compared to its average volume of 857,046. The company has a market cap of $81.23 million, a P/E ratio of -0.99 and a beta of 1.03. The company’s 50 day moving average is $1.88 and its two-hundred day moving average is $1.77. BioAtla has a 1 year low of $1.14 and a 1 year high of $4.02.

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