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

BioAtla, Inc. (NASDAQ:BCAB) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 4,220,000 shares, a growth of 32.7% from the February 28th total of 3,180,000 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is presently 4.0 days. Currently, 9.9% of the company’s shares are short sold.

Hedge Funds Weigh In On BioAtla

Several hedge funds have recently made changes to their positions in BCAB. Anson Funds Management LP bought a new stake in BioAtla in the fourth quarter valued at $2,720,000. Acorn Capital Advisors LLC purchased a new stake in shares of BioAtla in the 4th quarter worth about $2,384,000. Highbridge Capital Management LLC bought a new stake in shares of BioAtla during the 4th quarter valued at about $1,484,000. Tang Capital Management LLC grew its holdings in shares of BioAtla by 57.2% during the 4th quarter. Tang Capital Management LLC now owns 1,374,076 shares of the company’s stock worth $812,000 after acquiring an additional 500,000 shares during the period. Finally, Renaissance Technologies LLC grew its stake in BioAtla by 62.2% in the fourth quarter. Renaissance Technologies LLC now owns 829,596 shares of the company’s stock worth $490,000 after purchasing an additional 318,196 shares during the period. 77.23% of the stock is owned by hedge funds and other institutional investors.

BioAtla Stock Down 7.1 %

Shares of BioAtla stock opened at $0.35 on Tuesday. The company’s fifty day simple moving average is $0.40 and its two-hundred day simple moving average is $1.11. BioAtla has a 12-month low of $0.24 and a 12-month high of $4.02. The firm has a market cap of $16.77 million, a PE ratio of -0.20 and a beta of 1.19.

BioAtla (NASDAQ:BCAB) last posted its earnings results on Thursday, March 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.08. As a group, sell-side analysts expect that BioAtla will post -1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of BioAtla in a research note on Monday.

BioAtla Company 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.