BioAtla, Inc. (NASDAQ:BCAB) Sees Significant Increase in Short Interest

BioAtla, Inc. (NASDAQ:BCAB) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totaling 2,365,733 shares, a growth of 22.9% from the March 15th total of 1,924,850 shares. Approximately 211.2% of the shares of the company are short sold. Based on an average daily volume of 1,292,068 shares, the short-interest ratio is currently 1.8 days.

BioAtla Stock Down 6.5%

BCAB stock opened at $4.59 on Friday. The firm has a market capitalization of $7.62 million, a PE ratio of -0.09 and a beta of 1.22. BioAtla has a twelve month low of $3.92 and a twelve month high of $71.50. The stock has a 50-day simple moving average of $7.75 and a two-hundred day simple moving average of $24.02.

BioAtla (NASDAQ:BCAB) last posted its earnings results on Tuesday, March 31st. The company reported ($8.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($18.00) by $10.00. The company had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $0.70 million. On average, equities research analysts anticipate that BioAtla will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Woodline Partners LP purchased a new position in BioAtla during the 1st quarter valued at about $26,000. Sheets Smith Investment Management purchased a new position in BioAtla during the 3rd quarter valued at about $46,000. ADAR1 Capital Management LLC purchased a new position in BioAtla during the 4th quarter valued at about $104,000. Susquehanna International Group LLP grew its holdings in BioAtla by 237.6% during the 3rd quarter. Susquehanna International Group LLP now owns 252,583 shares of the company’s stock valued at $174,000 after buying an additional 177,760 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in BioAtla by 55.4% during the 4th quarter. Jane Street Group LLC now owns 346,774 shares of the company’s stock valued at $197,000 after buying an additional 123,597 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BCAB shares. Rodman & Renshaw started coverage on shares of BioAtla in a research note on Tuesday, January 13th. They issued a “buy” rating and a $200.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioAtla in a research note on Friday, January 9th. Finally, Wall Street Zen upgraded shares of BioAtla to a “hold” rating in a research note on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $200.00.

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.