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

BioAtla, Inc. (NASDAQ:BCAB) saw a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 2,697,341 shares, a decrease of 59.2% from the January 29th total of 6,612,587 shares. Currently, 4.8% of the company’s shares are short sold. Based on an average trading volume of 3,975,081 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 3,975,081 shares, the days-to-cover ratio is presently 0.7 days. Currently, 4.8% of the company’s shares are short sold.

BioAtla Stock Performance

NASDAQ BCAB opened at $0.25 on Friday. The stock has a market cap of $15.70 million, a P/E ratio of -0.22 and a beta of 1.10. BioAtla has a fifty-two week low of $0.13 and a fifty-two week high of $1.43. The stock has a 50 day simple moving average of $0.35 and a two-hundred day simple moving average of $0.58.

Analyst Ratings Changes

A number of equities analysts have commented on BCAB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioAtla in a research note on Friday, January 9th. Rodman & Renshaw initiated coverage on shares of BioAtla in a report on Tuesday, January 13th. They set a “buy” rating and a $4.00 price target for the company. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Acorn Capital Advisors LLC increased its position in shares of 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 buying an additional 803,065 shares during the period. Vanguard Group Inc. boosted its position in BioAtla by 9.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,945,795 shares of the company’s stock valued at $1,339,000 after acquiring an additional 162,647 shares in the last quarter. Acadian Asset Management LLC grew its holdings 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 worth $585,000 after acquiring an additional 1,531,994 shares during the period. Marshall Wace LLP bought a new position in shares of BioAtla in the 4th quarter worth approximately $508,000. Finally, Millennium Management LLC lifted its stake in shares of BioAtla by 123.4% in the 4th quarter. Millennium Management LLC now owns 762,394 shares of the company’s stock valued at $433,000 after purchasing an additional 421,072 shares during the period. 77.23% of the stock is currently owned by institutional investors.

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.