BioAtla, Inc. (NASDAQ:BCAB) Sees Large Increase in Short Interest

BioAtla, Inc. (NASDAQ:BCAB) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 5,590,000 shares, a growth of 9.0% from the March 15th total of 5,130,000 shares. Based on an average daily trading volume, of 511,500 shares, the days-to-cover ratio is presently 10.9 days.

Analyst Ratings Changes

Several brokerages have weighed in on BCAB. HC Wainwright lowered their target price on shares of BioAtla from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 price target on shares of BioAtla in a report on Thursday, March 28th.

Institutional Trading of BioAtla

Several institutional investors and hedge funds have recently modified their holdings of BCAB. Two Sigma Advisers LP lifted its stake in shares of BioAtla by 0.9% during the first quarter. Two Sigma Advisers LP now owns 352,200 shares of the company’s stock valued at $944,000 after buying an additional 3,000 shares during the period. Squarepoint Ops LLC boosted its position in BioAtla by 28.4% during the first quarter. Squarepoint Ops LLC now owns 19,179 shares of the company’s stock worth $51,000 after acquiring an additional 4,243 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in BioAtla by 71.6% during the first quarter. Tower Research Capital LLC TRC now owns 11,295 shares of the company’s stock worth $30,000 after acquiring an additional 4,711 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in BioAtla by 41.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,434 shares of the company’s stock worth $152,000 after acquiring an additional 5,407 shares during the last quarter. Finally, UBS Group AG acquired a new stake in BioAtla during the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 77.23% of the company’s stock.

BioAtla Price Performance

Shares of NASDAQ BCAB traded down $0.13 on Tuesday, hitting $2.73. The company’s stock had a trading volume of 288,917 shares, compared to its average volume of 498,990. BioAtla has a 12-month low of $1.24 and a 12-month high of $4.07. The company has a market capitalization of $131.31 million, a price-to-earnings ratio of -1.05 and a beta of 1.07. The stock has a 50 day moving average of $2.84 and a 200-day moving average of $2.22.

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.