Catalyst Biosciences, Inc. (NASDAQ:CBIO) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 343,900 shares, a drop of 33.2% from the November 15th total of 515,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 630,100 shares, the short-interest ratio is presently 0.5 days.
CBIO has been the topic of several research analyst reports. Raymond James lowered Catalyst Biosciences from an “outperform” rating to a “market perform” rating in a report on Friday, November 12th. Jonestrading lowered Catalyst Biosciences from a “buy” rating to a “hold” rating in a research note on Friday, November 12th. Finally, Piper Sandler lowered their price target on Catalyst Biosciences from $16.00 to $4.00 and set an “overweight” rating on the stock in a research note on Friday, November 12th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.75.
Shares of NASDAQ:CBIO opened at $1.01 on Friday. The business’s 50 day moving average price is $2.37 and its 200-day moving average price is $3.66. The firm has a market capitalization of $31.72 million, a PE ratio of -0.33 and a beta of 1.89. Catalyst Biosciences has a 1 year low of $0.97 and a 1 year high of $7.55.
Catalyst Biosciences (NASDAQ:CBIO) last released its quarterly earnings data on Friday, November 12th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.14). The company had revenue of $2.30 million for the quarter, compared to analyst estimates of $1.00 million. Catalyst Biosciences had a negative return on equity of 106.12% and a negative net margin of 1,248.43%. On average, analysts forecast that Catalyst Biosciences will post -2.79 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 22NW LP boosted its stake in Catalyst Biosciences by 84.4% during the second quarter. 22NW LP now owns 1,429,242 shares of the biopharmaceutical company’s stock worth $6,189,000 after buying an additional 653,968 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Catalyst Biosciences by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 925,706 shares of the biopharmaceutical company’s stock valued at $4,008,000 after purchasing an additional 18,110 shares during the period. Millennium Management LLC raised its position in Catalyst Biosciences by 46.1% in the second quarter. Millennium Management LLC now owns 787,748 shares of the biopharmaceutical company’s stock valued at $3,411,000 after purchasing an additional 248,474 shares during the period. Renaissance Technologies LLC purchased a new stake in Catalyst Biosciences in the second quarter valued at $1,941,000. Finally, Pura Vida Investments LLC purchased a new stake in Catalyst Biosciences in the third quarter valued at $1,531,000. 66.03% of the stock is currently owned by institutional investors.
Catalyst Biosciences Company Profile
Catalyst Biosciences, Inc is a clinical-stage biopharmaceutical company. It engages in the development of novel medicines to address serious medical conditions. The company was founded on March 7, 1997 and is headquartered in South San Francisco, CA.