BioAtla, Inc. (NASDAQ:BCAB) Short Interest Down 24.2% in July

BioAtla, Inc. (NASDAQ:BCAB) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 3,980,000 shares, a decrease of 24.2% from the June 30th total of 5,250,000 shares. Based on an average trading volume of 880,600 shares, the days-to-cover ratio is presently 4.5 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BCAB shares. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of BioAtla in a research report on Wednesday, May 15th. JMP Securities lowered their target price on shares of BioAtla from $12.00 to $5.00 and set a “market outperform” rating for the company in a report on Thursday, May 23rd.

BioAtla Price Performance

BioAtla stock traded down $0.08 during trading on Friday, reaching $1.62. The company had a trading volume of 413,966 shares, compared to its average volume of 1,104,443. BioAtla has a 12-month low of $1.14 and a 12-month high of $4.02. The stock’s 50 day moving average price is $1.63 and its two-hundred day moving average price is $2.31.

BioAtla (NASDAQ:BCAB) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.09. Sell-side analysts predict that BioAtla will post -1.6 earnings per share for the current year.

Institutional Investors Weigh In On BioAtla

Several institutional investors have recently bought and sold shares of BCAB. Panagora Asset Management Inc. grew its stake in BioAtla by 110.0% during the fourth quarter. Panagora Asset Management Inc. now owns 111,366 shares of the company’s stock worth $274,000 after buying an additional 58,336 shares during the period. Pale Fire Capital SE grew its stake in BioAtla by 204.6% during the fourth quarter. Pale Fire Capital SE now owns 48,383 shares of the company’s stock worth $119,000 after buying an additional 32,500 shares during the period. Perceptive Advisors LLC purchased a new stake in BioAtla during the fourth quarter worth approximately $180,000. PVG Asset Management Corp purchased a new stake in BioAtla during the fourth quarter worth approximately $161,000. Finally, Chase Investment Counsel Corp acquired a new position in shares of BioAtla during the first quarter worth $263,000. 77.23% of the stock is currently owned by hedge funds and other institutional investors.

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.