BioAtla (NASDAQ:BCAB) Stock Price Breaks Below 50-Day Moving Average – What’s Next?

BioAtla, Inc. (NASDAQ:BCAB)’s share price crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $1.61 and traded as low as $1.56. BioAtla shares last traded at $1.56, with a volume of 564 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioAtla in a report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, BioAtla has a consensus rating of “Hold” and an average target price of $200.00.

BioAtla Trading Down 7.7%

The stock has a market capitalization of $2.60 million, a price-to-earnings ratio of -0.06 and a beta of 0.53. The firm has a 50-day moving average of $1.61 and a 200 day moving average of $4.46.

BioAtla (NASDAQ:BCAB) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($8.50) by $8.64. The company had revenue of $6.50 million for the quarter, compared to the consensus estimate of $6.50 million.

Hedge Funds Weigh In On BioAtla

A hedge fund recently raised its position in BioAtla stock. ADAR1 Capital Management LLC raised its position in shares of BioAtla, Inc. (NASDAQ:BCAB) by 24.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,107 shares of the company’s stock after purchasing an additional 45,000 shares during the period. ADAR1 Capital Management LLC owned 13.74% of BioAtla worth $37,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

About BioAtla

BioAtla, Inc. was a clinical-stage biotechnology company focused on developing targeted cancer therapies. The company used its Conditionally Active Biologics (CAB) platform to design antibody-based medicines intended to become active primarily within the tumor microenvironment, with the goal of improving treatment effectiveness while limiting effects on healthy tissue. BioAtla’s investigational pipeline included antibody-drug conjugates and immune-modulating therapies. Its lead programs included mecbotamab vedotin, an antibody-drug conjugate designed to target AXL, and ozuriftamab vedotin, an investigational therapy directed at ROR2.