BioAtla (NASDAQ:BCAB) Shares Down 6.1% – Time to Sell?

BioAtla, Inc. (NASDAQ:BCAB) shares traded down 6.1% during trading on Monday . The stock traded as low as $0.48 and last traded at $0.50. 1,421,670 shares changed hands during trading, a decline of 24% from the average session volume of 1,877,024 shares. The stock had previously closed at $0.53.

Analysts Set New Price Targets

Several research firms recently weighed in on BCAB. JMP Securities restated a “market outperform” rating and issued a $5.00 price objective on shares of BioAtla in a research report on Monday, September 16th. HC Wainwright cut BioAtla from a “buy” rating to a “neutral” rating in a report on Wednesday, November 13th.

BioAtla Price Performance

The business has a 50 day moving average of $1.30 and a 200 day moving average of $1.60. The firm has a market capitalization of $24.12 million, a price-to-earnings ratio of -0.29 and a beta of 1.17.

BioAtla (NASDAQ:BCAB) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share 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 previous year, the business posted ($0.70) EPS. As a group, equities analysts predict that BioAtla, Inc. will post -1.49 EPS for the current year.

Hedge Funds Weigh In On BioAtla

Several institutional investors have recently modified their holdings of BCAB. Vontobel Holding Ltd. acquired a new position in shares of BioAtla in the third quarter valued at approximately $28,000. Chicago Partners Investment Group LLC acquired a new stake in BioAtla in the 3rd quarter valued at approximately $44,000. American Century Companies Inc. lifted its stake in BioAtla by 36.1% in the 2nd quarter. American Century Companies Inc. now owns 43,391 shares of the company’s stock valued at $59,000 after acquiring an additional 11,503 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in BioAtla during the 2nd quarter worth approximately $99,000. Finally, XTX Topco Ltd grew its stake in shares of BioAtla by 7.2% during the 3rd quarter. XTX Topco Ltd now owns 154,967 shares of the company’s stock worth $273,000 after acquiring an additional 10,384 shares in the last quarter. 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.