Catabasis Pharmaceuticals Inc (NASDAQ:CATB) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 208,163 shares, a drop of 58.8% from the February 15th total of 505,060 shares. Based on an average daily volume of 1,400,203 shares, the short-interest ratio is currently 0.1 days. Approximately 4.2% of the company’s stock are short sold.
A number of institutional investors and hedge funds have recently made changes to their positions in CATB. Oppenheimer & Co. Inc. boosted its stake in Catabasis Pharmaceuticals by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 169,000 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 49,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in Catabasis Pharmaceuticals by 146.1% in the fourth quarter. Geode Capital Management LLC now owns 76,612 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 45,476 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Catabasis Pharmaceuticals by 167.2% in the fourth quarter. Renaissance Technologies LLC now owns 468,700 shares of the biotechnology company’s stock valued at $698,000 after acquiring an additional 293,300 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Catabasis Pharmaceuticals in the fourth quarter valued at approximately $335,000. Institutional investors own 34.39% of the company’s stock.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Catabasis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Wedbush restated an “outperform” rating and issued a $4.00 target price on shares of Catabasis Pharmaceuticals in a research note on Friday, December 15th. Finally, Citigroup upgraded shares of Catabasis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $4.82.
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Catabasis Pharmaceuticals Company Profile
Catabasis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics based on its Safely Metabolized And Rationally Targeted (SMART), a linker drug discovery platform. The SMART linker drug discovery platform enables to engineer product candidates that can modulate multiple targets in a disease.
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