Bio-Path (NASDAQ:BPTH) Stock Rating Lowered by Zacks Investment Research

Bio-Path (NASDAQ:BPTH – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “BIO-PATH is developing leading-edge, patented, liposomal drug delivery systems, with two clinical cancer drug candidates ready for the clinic and a third siRNA cancer drug undergoing final pre-clinical development. Bio-Path’s drug delivery technology distributes nucleic acid drugs systemically, throughout the human body, via simple intravenous infusion. The delivery technology can be applied both to double stranded and single stranded nucleic acid compounds with the potential to revolutionize the treatment of cancer and other diseases where drugable targets of disease are well characterized. “

A number of other brokerages have also commented on BPTH. StockNews.com began coverage on shares of Bio-Path in a report on Friday, May 13th. They issued a “sell” rating on the stock. HC Wainwright decreased their price target on shares of Bio-Path from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday.

Bio-Path stock traded down $0.07 during midday trading on Friday, reaching $3.13. 29,790 shares of the stock were exchanged, compared to its average volume of 58,029. The company’s fifty day moving average is $3.30 and its 200-day moving average is $3.77. The firm has a market cap of $22.41 million, a PE ratio of -1.94 and a beta of 1.75. Bio-Path has a 52 week low of $2.68 and a 52 week high of $8.62.

Bio-Path (NASDAQ:BPTH – Get Rating) last issued its quarterly earnings results on Tuesday, May 17th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.02). During the same period in the previous year, the company earned ($0.43) EPS. As a group, analysts forecast that Bio-Path will post -1.76 EPS for the current year.

Several institutional investors have recently made changes to their positions in BPTH. Morgan Stanley boosted its stake in shares of Bio-Path by 1,976.2% in the 1st quarter. Morgan Stanley now owns 39,966 shares of the company’s stock valued at $281,000 after purchasing an additional 38,041 shares in the last quarter. Bailard Inc. purchased a new stake in shares of Bio-Path in the 4th quarter valued at $126,000. Virtu Financial LLC purchased a new stake in shares of Bio-Path in the 1st quarter valued at $38,000. Finally, Citadel Advisors LLC boosted its stake in shares of Bio-Path by 23.1% in the 2nd quarter. Citadel Advisors LLC now owns 25,356 shares of the company’s stock valued at $169,000 after purchasing an additional 4,765 shares in the last quarter. 6.29% of the stock is owned by institutional investors.

About Bio-Path (Get Rating)

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nano particle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.

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