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

BioAtla, Inc. (NASDAQ:BCAB) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 4,341,741 shares, a decline of 29.9% from the November 30th total of 6,190,599 shares. Currently, 8.4% of the shares of the company are short sold. Based on an average daily trading volume, of 989,384 shares, the short-interest ratio is presently 4.4 days. Based on an average daily trading volume, of 989,384 shares, the short-interest ratio is presently 4.4 days. Currently, 8.4% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of BioAtla in a research report on Tuesday, October 14th. Wall Street Zen upgraded BioAtla to a “sell” rating in a research note on Saturday, September 6th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BCAB. Susquehanna International Group LLP lifted its position in BioAtla by 237.6% during the third quarter. Susquehanna International Group LLP now owns 252,583 shares of the company’s stock worth $174,000 after purchasing an additional 177,760 shares during the period. Millennium Management LLC acquired a new position in shares of BioAtla in the 3rd quarter valued at approximately $235,000. Vanguard Group Inc. boosted its position in shares of BioAtla by 9.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,945,795 shares of the company’s stock worth $1,339,000 after acquiring an additional 162,647 shares in the last quarter. Sheets Smith Investment Management bought a new position in BioAtla in the third quarter valued at approximately $46,000. Finally, Acorn Capital Advisors LLC raised its position in BioAtla by 19.9% during the second quarter. Acorn Capital Advisors LLC now owns 4,835,111 shares of the company’s stock valued at $1,915,000 after purchasing an additional 803,065 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.

BioAtla Stock Up 15.3%

Shares of BioAtla stock opened at $0.83 on Monday. The stock has a market capitalization of $49.08 million, a price-to-earnings ratio of -0.73 and a beta of 1.00. BioAtla has a twelve month low of $0.24 and a twelve month high of $1.43. The company has a 50-day simple moving average of $0.78 and a two-hundred day simple moving average of $0.60.

BioAtla (NASDAQ:BCAB) last announced its earnings results on Thursday, November 13th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.04. On average, sell-side analysts anticipate that BioAtla will post -1.46 earnings per share for the current fiscal year.

BioAtla Company Profile

BioAtla, Inc (NASDAQ: BCAB) is a clinical‐stage biotechnology company focused on the development of conditionally active biologics (CABs) for oncology and other serious diseases. Utilizing its proprietary CAB technology platform, BioAtla engineers monoclonal antibodies, bispecifics and antibody-drug conjugates that remain inactive in healthy tissues but become activated in the tumor microenvironment. This targeted approach aims to improve therapeutic index by enhancing anti‐tumor potency while minimizing off-target effects and systemic toxicity.

Founded in 2012 and headquartered in San Diego, California, BioAtla has advanced multiple product candidates into clinical trials.