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

BioAtla, Inc. (NASDAQ:BCAB) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 5,590,000 shares, an increase of 9.0% from the March 15th total of 5,130,000 shares. Based on an average daily volume of 511,500 shares, the days-to-cover ratio is presently 10.9 days.

BioAtla Trading Down 8.2 %

BioAtla stock opened at $2.63 on Wednesday. BioAtla has a 12 month low of $1.24 and a 12 month high of $4.07. The company has a market capitalization of $126.26 million, a price-to-earnings ratio of -1.01 and a beta of 1.07. The business’s fifty day simple moving average is $2.84 and its two-hundred day simple moving average is $2.23.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $12.00 target price on shares of BioAtla in a report on Thursday, March 28th. HC Wainwright lowered their price target on shares of BioAtla from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th.

Hedge Funds Weigh In On BioAtla

Hedge funds have recently bought and sold shares of the company. Two Sigma Advisers LP raised its holdings in BioAtla by 0.9% in the first quarter. Two Sigma Advisers LP now owns 352,200 shares of the company’s stock worth $944,000 after buying an additional 3,000 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of BioAtla by 28.4% during the first quarter. Squarepoint Ops LLC now owns 19,179 shares of the company’s stock valued at $51,000 after acquiring an additional 4,243 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in BioAtla by 71.6% in the 1st quarter. Tower Research Capital LLC TRC now owns 11,295 shares of the company’s stock worth $30,000 after acquiring an additional 4,711 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in BioAtla by 41.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,434 shares of the company’s stock valued at $152,000 after acquiring an additional 5,407 shares in the last quarter. Finally, UBS Group AG purchased a new stake in BioAtla during the 3rd quarter valued at $43,000. Institutional investors own 77.23% of the company’s stock.

About BioAtla

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.