Short Interest in BioAtla, Inc. (NASDAQ:BCAB) Rises By 32.7%

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Anson Funds Management LP purchased a new stake in BioAtla during the 4th quarter valued at approximately $2,720,000. Acorn Capital Advisors LLC acquired a new stake in shares of BioAtla during the fourth quarter worth $2,384,000. Highbridge Capital Management LLC acquired a new position in BioAtla in the 4th quarter valued at $1,484,000. Tang Capital Management LLC raised its position in 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 buying an additional 500,000 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of BioAtla by 62.2% in the 4th quarter. Renaissance Technologies LLC now owns 829,596 shares of the company’s stock worth $490,000 after acquiring an additional 318,196 shares during the period. Hedge funds and other institutional investors own 77.23% of the company’s stock.

BioAtla Stock Performance

NASDAQ BCAB opened at $0.35 on Monday. The firm has a market cap of $16.78 million, a price-to-earnings ratio of -0.20 and a beta of 1.19. The firm has a 50 day simple moving average of $0.40 and a 200-day simple moving average of $1.12. BioAtla has a one year low of $0.24 and a one year high of $4.02.

BioAtla (NASDAQ:BCAB) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.08. Equities analysts predict that BioAtla will post -1.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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.