HC Wainwright Downgrades BioAtla (NASDAQ:BCAB) to Neutral

HC Wainwright lowered shares of BioAtla (NASDAQ:BCAB) from a buy rating to a neutral rating in a research note released on Wednesday morning, MarketBeat Ratings reports. HC Wainwright also issued estimates for BioAtla’s Q4 2024 earnings at ($0.33) EPS, FY2024 earnings at ($1.46) EPS, Q1 2025 earnings at ($0.33) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at ($0.39) EPS, FY2025 earnings at ($1.40) EPS, FY2026 earnings at ($1.74) EPS, FY2027 earnings at ($1.29) EPS and FY2028 earnings at ($0.99) EPS.

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 target price on shares of BioAtla in a research note on Monday, September 16th.

BioAtla Stock Performance

BCAB stock opened at $1.56 on Wednesday. BioAtla has a 52-week low of $1.14 and a 52-week high of $4.02. The company has a market capitalization of $75.40 million, a P/E ratio of -0.92 and a beta of 1.03. The business has a 50-day simple moving average of $1.91 and a two-hundred day simple moving average of $1.87.

BioAtla (NASDAQ:BCAB) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.12. The company had revenue of $11.00 million during the quarter. During the same quarter in the previous year, the business earned ($0.70) earnings per share. As a group, sell-side analysts forecast that BioAtla will post -1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioAtla

A number of large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in shares of BioAtla during the 2nd quarter valued at $872,000. Scion Asset Management LLC bought a new stake in BioAtla during the second quarter worth about $869,000. GSA Capital Partners LLP purchased a new stake in BioAtla in the third quarter worth about $623,000. Bank of Montreal Can boosted its position in shares of BioAtla by 55.1% in the 2nd quarter. Bank of Montreal Can now owns 404,198 shares of the company’s stock worth $554,000 after purchasing an additional 143,521 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in BioAtla by 28.3% in the second quarter. Dimensional Fund Advisors LP now owns 333,858 shares of the company’s stock worth $458,000 after acquiring an additional 73,598 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.

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.