StockNews.com Initiates Coverage on Bio-Path (NASDAQ:BPTH)

Research analysts at StockNews.com assumed coverage on shares of Bio-Path (NASDAQ:BPTH) in a research note issued on Saturday. The brokerage set a “sell” rating on the stock.

Bio-Path Price Performance

Shares of BPTH stock opened at $0.81 on Friday. Bio-Path has a 12-month low of $0.80 and a 12-month high of $12.40. The firm has a fifty day moving average of $0.98 and a 200-day moving average of $1.57.

Bio-Path (NASDAQ:BPTH) last posted its earnings results on Thursday, August 15th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.38. During the same period last year, the firm earned ($10.60) earnings per share. Equities analysts predict that Bio-Path will post -6.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Bio-Path

A hedge fund recently bought a new stake in Bio-Path stock. Armistice Capital LLC purchased a new stake in Bio-Path Holdings, Inc. (NASDAQ:BPTH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 97,000 shares of the company’s stock, valued at approximately $194,000. Armistice Capital LLC owned approximately 4.66% of Bio-Path as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 5.74% of the company’s stock.

Bio-Path Company Profile

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nanoparticle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology platform that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.