Short Interest in BioAtla, Inc. (NASDAQ:BCAB) Drops By 15.0%

BioAtla, Inc. (NASDAQ:BCAB) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 4,140,000 shares, a drop of 15.0% from the October 31st total of 4,870,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is currently 3.5 days.

BioAtla Stock Performance

Shares of NASDAQ:BCAB traded down $0.01 during midday trading on Monday, reaching $1.67. The company’s stock had a trading volume of 292,436 shares, compared to its average volume of 854,610. The firm has a market capitalization of $80.74 million, a price-to-earnings ratio of -0.99 and a beta of 1.03. The firm has a 50 day moving average price of $1.88 and a two-hundred day moving average price of $1.76. BioAtla has a fifty-two week low of $1.14 and a fifty-two week high of $4.02.

BioAtla (NASDAQ:BCAB) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.12. The firm had revenue of $11.00 million during the quarter. During the same quarter in the prior year, the firm posted ($0.70) EPS. As a group, research analysts anticipate that BioAtla will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BCAB shares. HC Wainwright downgraded BioAtla from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and set a $5.00 price objective on shares of BioAtla in a research note on Monday, September 16th.

Institutional Trading of BioAtla

Several institutional investors have recently made changes to their positions in the company. XTX Topco Ltd grew its stake in BioAtla by 7.2% in the 3rd quarter. XTX Topco Ltd now owns 154,967 shares of the company’s stock valued at $273,000 after purchasing an additional 10,384 shares during the period. American Century Companies Inc. grew its position in shares of BioAtla by 36.1% during the 2nd quarter. American Century Companies Inc. now owns 43,391 shares of the company’s stock valued at $59,000 after purchasing an additional 11,503 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in BioAtla during the first quarter valued at $45,000. Massachusetts Financial Services Co. MA grew its holdings in shares of BioAtla by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 541,199 shares of the company’s stock worth $741,000 after purchasing an additional 14,737 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of BioAtla in the 3rd quarter worth $28,000. 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.