Rhumbline Advisers Trims Stock Position in BioAtla, Inc. (NASDAQ:BCAB)

Rhumbline Advisers trimmed its holdings in BioAtla, Inc. (NASDAQ:BCAB) by 67.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,151 shares of the company’s stock after selling 42,644 shares during the quarter. Rhumbline Advisers’ holdings in BioAtla were worth $28,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Valmark Advisers Inc. acquired a new position in shares of BioAtla in the 2nd quarter valued at about $34,000. Rinkey Investments purchased a new position in BioAtla during the second quarter valued at approximately $35,000. Price T Rowe Associates Inc. MD purchased a new position in BioAtla during the first quarter valued at approximately $45,000. Virtu Financial LLC acquired a new position in BioAtla in the first quarter valued at approximately $103,000. Finally, Pale Fire Capital SE boosted its position in BioAtla by 204.6% in the 4th quarter. Pale Fire Capital SE now owns 48,383 shares of the company’s stock worth $119,000 after purchasing an additional 32,500 shares in the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $5.00 target price on shares of BioAtla in a report on Monday, September 16th.

BioAtla Stock Performance

Shares of BioAtla stock opened at $1.73 on Wednesday. The firm has a 50-day simple moving average of $1.71 and a two-hundred day simple moving average of $2.06. BioAtla, Inc. has a fifty-two week low of $1.14 and a fifty-two week high of $4.02. The company has a market cap of $83.24 million, a P/E ratio of -0.69 and a beta of 1.06.

BioAtla (NASDAQ:BCAB) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.01. During the same period last year, the firm posted ($0.75) earnings per share. Equities research analysts forecast that BioAtla, Inc. will post -1.52 EPS for the current year.

BioAtla Profile

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.