BioAtla (NASDAQ:BCAB) Stock Price Up 1.4% – Here’s What Happened

BioAtla, Inc. (NASDAQ:BCAB)’s stock price rose 1.4% on Wednesday . The stock traded as high as $0.39 and last traded at $0.38. Approximately 480,994 shares were traded during trading, a decline of 15% from the average daily volume of 568,950 shares. The stock had previously closed at $0.37.

Analysts Set New Price Targets

BCAB has been the subject of several analyst reports. Citizens Jmp downgraded BioAtla from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 13th. Wall Street Zen upgraded BioAtla from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Finally, JMP Securities reiterated a “market perform” rating on shares of BioAtla in a report on Wednesday, August 13th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.00.

BioAtla Price Performance

The firm has a market capitalization of $22.04 million, a PE ratio of -0.34 and a beta of 0.90. The firm has a 50-day simple moving average of $0.38 and a 200-day simple moving average of $0.39.

BioAtla (NASDAQ:BCAB) last announced its earnings results on Thursday, August 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). Equities analysts expect that BioAtla, Inc. will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BCAB. Acorn Capital Advisors LLC lifted its position in shares of BioAtla by 19.9% during the 2nd quarter. Acorn Capital Advisors LLC now owns 4,835,111 shares of the company’s stock valued at $1,915,000 after buying an additional 803,065 shares in the last quarter. Anson Funds Management LP purchased a new position in shares of BioAtla during the 4th quarter valued at about $2,720,000. Acadian Asset Management LLC lifted its position in shares of BioAtla by 968.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,690,110 shares of the company’s stock valued at $585,000 after buying an additional 1,531,994 shares in the last quarter. Tang Capital Management LLC lifted its position in shares of BioAtla by 57.2% during the 4th quarter. Tang Capital Management LLC now owns 1,374,076 shares of the company’s stock valued at $812,000 after buying an additional 500,000 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of BioAtla by 62.2% during the 4th quarter. Renaissance Technologies LLC now owns 829,596 shares of the company’s stock valued at $490,000 after buying an additional 318,196 shares in the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.

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.