SAB Biotherapeutics (NASDAQ:SABS) Stock Falls 2.4% – Here’s What Happened

SAB Biotherapeutics, Inc. (NASDAQ:SABS) dropped 2.4% during trading on Monday. The company traded as low as $3.14 and last traded at $3.21. 697,891 shares changed hands during trading, an increase of 36% from the average session volume of 511,300 shares. The stock had previously closed at $3.29.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SABS shares. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of SAB Biotherapeutics in a report on Monday, June 15th. Wall Street Zen upgraded SAB Biotherapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Barclays started coverage on SAB Biotherapeutics in a research report on Wednesday, June 24th. They set an “overweight” rating and a $13.00 target price on the stock. Leerink Partners raised their price target on SAB Biotherapeutics from $7.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Finally, Chardan Capital lifted their price objective on shares of SAB Biotherapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

SAB Biotherapeutics Trading Up 0.2%

The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.01. The firm has a market cap of $293.44 million, a P/E ratio of -2.48 and a beta of 0.53. The company’s 50 day simple moving average is $3.62 and its 200-day simple moving average is $3.71.

SAB Biotherapeutics (NASDAQ:SABS) last released its earnings results on Thursday, August 6th. The company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). As a group, research analysts predict that SAB Biotherapeutics, Inc. will post -1.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SAB Biotherapeutics

Several hedge funds have recently bought and sold shares of SABS. Perceptive Advisors LLC lifted its position in shares of SAB Biotherapeutics by 700.8% during the first quarter. Perceptive Advisors LLC now owns 6,431,743 shares of the company’s stock worth $24,634,000 after purchasing an additional 5,628,533 shares during the last quarter. Spruce Street Capital LP purchased a new position in SAB Biotherapeutics in the 4th quarter worth about $8,222,000. Propel Bio Management LLC purchased a new position in SAB Biotherapeutics in the 4th quarter worth about $2,442,000. Affinity Asset Advisors LLC purchased a new position in SAB Biotherapeutics in the 1st quarter worth about $2,202,000. Finally, Monashee Investment Management LLC bought a new stake in SAB Biotherapeutics during the 1st quarter valued at about $1,915,000. Institutional investors own 7.82% of the company’s stock.

SAB Biotherapeutics Company Profile

SAB Biotherapeutics, Inc is a clinical-stage biopharmaceutical company developing targeted antibody-based medicines for infectious diseases and immune-mediated conditions. The company’s approach is designed to produce fully human polyclonal antibodies that can recognize and neutralize multiple targets associated with a disease.

SAB’s technology platform, known as DiversitAb, uses genetically engineered cattle that are capable of producing human antibodies. Antibodies harvested from the animals’ plasma are evaluated for potential use as therapeutics.