BioAtla (NASDAQ:BCAB) Stock Price Down 6.1% – What’s Next?

BioAtla, Inc. (NASDAQ:BCAB) shares fell 6.1% during trading on Monday . The company traded as low as $0.48 and last traded at $0.50. 1,421,670 shares traded hands during trading, a decline of 24% from the average session volume of 1,877,024 shares. The stock had previously closed at $0.53.

Wall Street Analyst Weigh In

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

BioAtla Stock Performance

The stock’s 50-day simple moving average is $1.27 and its 200-day simple moving average is $1.59. The firm has a market capitalization of $23.30 million, a PE ratio of -0.28 and a beta of 1.17.

BioAtla (NASDAQ:BCAB) last released its quarterly 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 company had revenue of $11.00 million during the quarter. During the same period in the prior year, the firm posted ($0.70) earnings per share. As a group, analysts predict that BioAtla, Inc. will post -1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in BioAtla in the second quarter worth $872,000. Scion Asset Management LLC purchased a new stake in shares of BioAtla in the 2nd quarter worth about $869,000. GSA Capital Partners LLP bought a new position in shares of BioAtla in the 3rd quarter worth about $623,000. Bank of Montreal Can lifted its position in BioAtla by 55.1% during the 2nd quarter. Bank of Montreal Can now owns 404,198 shares of the company’s stock valued at $554,000 after acquiring an additional 143,521 shares during the period. Finally, American Century Companies Inc. boosted its stake in BioAtla by 36.1% during the second quarter. American Century Companies Inc. now owns 43,391 shares of the company’s stock worth $59,000 after acquiring an additional 11,503 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

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.