BioAtla Inc. (NASDAQ: BCAB) stock jumped 20.27% on Friday to $7.95 against a previous-day closing price of $6.61. With 8.84 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.8 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $9.15 whereas the lowest price it dropped to was $6.72. The 52-week range on BCAB shows that it touched its highest point at $43.24 and its lowest point at $2.01 during that stretch. It currently has a 1-year price target of $31.00.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BCAB was up-trending over the past week, with a rise of 108.66%, but this was up by 88.39% over a month. Three-month performance surged to 266.36% while six-month performance rose 0.63%. The stock lost -80.78% in the past year, while it has lost -59.50% so far this year. A look at the trailing 12-month EPS for BCAB yields -2.86 with Next year EPS estimates of -2.68. For the next quarter, that number is -0.69. This implies an EPS growth rate of -147.10% for this year and 3.60% for next year.
Float and Shares Shorts:
At present, 37.32 million BCAB shares are outstanding with a float of 28.47 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4.84 million, which was 12.94% higher than short shares on Jun 14, 2022. In addition to Dr. Jay M. Short Ph.D. as the firm’s Co-Founder, CEO & Chairman, Mr. Scott Andrew Smith serves as its Pres & Director.
Through their ownership of 76.13% of BCAB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.87% of BCAB, in contrast to 41.95% held by mutual funds. Shares owned by individuals account for 17.71%. As the largest shareholder in BCAB with 8.13% of the stake, Fidelity Management & Research Co holds 2,919,403 shares worth 2,919,403. A second-largest stockholder of BCAB, Janus Henderson Investors US LLC, holds 2,563,088 shares, controlling over 7.14% of the firm’s shares. Soleus Capital Management LP is the third largest shareholder in BCAB, holding 2,515,424 shares or 7.00% stake. With a 2.41% stake in BCAB, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 866,299 shares are owned by the mutual fund manager. The Wellington Mgmt. Funds, which owns about 2.09% of BCAB stock, is the second-largest Mutual Fund holder. It holds 749,336 shares valued at 2.14 million. Janus Henderson Global Life Scien holds 1.41% of the stake in BCAB, owning 507,984 shares worth 1.45 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BCAB since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BCAB analysts setting a high price target of $68.00 and a low target of $4.00, the average target price over the next 12 months is $29.17. Based on these targets, BCAB could surge 755.35% to reach the target high and fall by -49.69% to reach the target low. Reaching the average price target will result in a growth of 266.92% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BCAB will report FY 2022 earnings on 03/23/2023. Analysts have provided yearly estimates in a range of -$2.60 being high and -$3.15 being low. For BCAB, this leads to a yearly average estimate of -$2.91. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. BioAtla Inc. surprised analysts by -$0.08 when it reported -$0.77 EPS against a consensus estimate of -$0.69. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.71 and the low estimate is -$0.83. The average estimate for the next quarter is thus -$0.77.
Summary of Insider Activity:
Insiders traded BCAB stock several times over the past three months with 3 Buys and 8 Sells. In these transactions, 50,000 shares were bought while 7,019 shares were sold. The number of buy transactions has increased to 5 while that of sell transactions has risen to 120 over the past year. The total number of shares bought during that period was 325,647 while 805,798 shares were sold.