BioAtla, Inc. (NASDAQ:BCAB) Short Interest Down 24.2% in July

BioAtla, Inc. (NASDAQ:BCAB) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totalling 3,980,000 shares, a decline of 24.2% from the June 30th total of 5,250,000 shares. Based on an average daily volume of 880,600 shares, the days-to-cover ratio is currently 4.5 days.

BioAtla Price Performance

Shares of BCAB traded up $0.03 during trading hours on Monday, hitting $1.65. The company’s stock had a trading volume of 590,849 shares, compared to its average volume of 673,289. The company has a market cap of $79.40 million, a price-to-earnings ratio of -0.68 and a beta of 1.06. The business has a 50 day simple moving average of $1.63 and a two-hundred day simple moving average of $2.30. BioAtla has a 52-week low of $1.14 and a 52-week high of $4.02.

BioAtla (NASDAQ:BCAB) last announced its earnings results on Tuesday, May 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.09. Research analysts predict that BioAtla will post -1.6 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of BioAtla in a research note on Wednesday, May 15th. JMP Securities dropped their target price on shares of BioAtla from $12.00 to $5.00 and set a “market outperform” rating for the company in a report on Thursday, May 23rd.

Institutional Trading of BioAtla

A number of hedge funds and other institutional investors have recently modified their holdings of BCAB. Vanguard Group Inc. increased its position in shares of BioAtla by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 2,099,037 shares of the company’s stock valued at $7,221,000 after purchasing an additional 17,667 shares during the last quarter. Acadian Asset Management LLC grew its holdings in BioAtla by 57.6% during the 1st quarter. Acadian Asset Management LLC now owns 155,188 shares of the company’s stock valued at $532,000 after buying an additional 56,748 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in BioAtla by 110.0% during the 4th quarter. Panagora Asset Management Inc. now owns 111,366 shares of the company’s stock valued at $274,000 after buying an additional 58,336 shares in the last quarter. Chase Investment Counsel Corp purchased a new stake in BioAtla during the 1st quarter valued at approximately $263,000. Finally, Perceptive Advisors LLC purchased a new stake in BioAtla during the 4th quarter valued at approximately $180,000. 77.23% of the stock is owned by hedge funds and other institutional investors.

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.