BioAtla (NASDAQ:BCAB) Stock Price Down 6.1% – Here’s Why

BioAtla, Inc. (NASDAQ:BCAB) shares dropped 6.1% during mid-day trading on Monday . The company traded as low as $0.48 and last traded at $0.50. Approximately 1,421,670 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 1,877,024 shares. The stock had previously closed at $0.53.

Wall Street Analyst Weigh In

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

BioAtla Price Performance

The company has a fifty day simple moving average of $1.30 and a two-hundred day simple moving average of $1.60. The company has a market capitalization of $24.12 million, a P/E ratio of -0.29 and a beta of 1.17.

BioAtla (NASDAQ:BCAB) last posted its quarterly earnings data 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 for the quarter. During the same period in the prior year, the company posted ($0.70) earnings per share. Equities analysts anticipate that BioAtla, Inc. will post -1.49 earnings per share for the current year.

Institutional Trading of BioAtla

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in BioAtla in the 2nd quarter valued at approximately $872,000. Scion Asset Management LLC bought a new position in BioAtla during the second quarter worth about $869,000. Massachusetts Financial Services Co. MA boosted its holdings in BioAtla by 5.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 569,332 shares of the company’s stock valued at $1,002,000 after purchasing an additional 28,133 shares in the last quarter. Bank of Montreal Can grew its stake in shares of BioAtla by 55.1% in the 2nd quarter. Bank of Montreal Can now owns 404,198 shares of the company’s stock valued at $554,000 after purchasing an additional 143,521 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of BioAtla in the 3rd quarter worth approximately $623,000. 77.23% of the stock is owned by 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.