Catalyst Biosciences (CBIO) Downgraded by Zacks Investment Research to “Hold”

Catalyst Biosciences (NASDAQ:CBIO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Catalyst Biosciences, Inc. is a biopharmaceutical company which focused on creating and developing medicines to address serious medical conditions. The Company’s hemostasis product candidates include CB 813d/PF-0520602, CB 2679d/ISU 304 and FXa. Anti-Complement Product consists of CB 2782 and Ophthalmic which are in clinical different trail. Catalyst Biosciences, Inc., formerly known as Targacept, Inc., is based in South San Francisco, Calif. “

Several other equities analysts have also recently issued reports on the company. BidaskClub upgraded Catalyst Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, April 21st. B. Riley set a $49.00 price target on Catalyst Biosciences and gave the stock a “buy” rating in a report on Friday, February 9th. Chardan Capital upped their price target on Catalyst Biosciences from $10.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, ValuEngine upgraded Catalyst Biosciences from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $41.25.

NASDAQ CBIO traded up $1.12 on Thursday, hitting $27.89. 83,865 shares of the company’s stock were exchanged, compared to its average volume of 369,831. Catalyst Biosciences has a fifty-two week low of $3.11 and a fifty-two week high of $37.00. The stock has a market capitalization of $316.73, a price-to-earnings ratio of -3.74 and a beta of 2.52.

Catalyst Biosciences (NASDAQ:CBIO) last released its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.45. Catalyst Biosciences had a negative return on equity of 86.40% and a negative net margin of 2,117.98%. The company had revenue of $0.32 million for the quarter, compared to analysts’ expectations of $0.23 million. research analysts predict that Catalyst Biosciences will post -4.16 earnings per share for the current year.

In related news, insider James E. Flynn sold 71,778 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $30.53, for a total value of $2,191,382.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder James E. Flynn sold 52,461 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $30.87, for a total value of $1,619,471.07. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Catalyst Biosciences by 294.1% in the 2nd quarter. Vanguard Group Inc. now owns 43,714 shares of the biopharmaceutical company’s stock valued at $204,000 after buying an additional 32,621 shares in the last quarter. Ardsley Advisory Partners purchased a new stake in Catalyst Biosciences in the 4th quarter valued at approximately $205,000. Geode Capital Management LLC purchased a new stake in Catalyst Biosciences in the 4th quarter valued at approximately $379,000. Raymond James & Associates purchased a new stake in Catalyst Biosciences in the 4th quarter valued at approximately $585,000. Finally, Dimensional Fund Advisors LP lifted its stake in Catalyst Biosciences by 117.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 173,555 shares of the biopharmaceutical company’s stock valued at $873,000 after buying an additional 93,592 shares in the last quarter. 24.41% of the stock is currently owned by hedge funds and other institutional investors.

Catalyst Biosciences Company Profile

Catalyst Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on developing medicines to address hematology indications. Its product pipeline includes marzeptacog alfa, a Factor VIIa variant that completed a Phase I clinical trials evaluating safety, tolerability, pharmacokinetics, pharmacodynamics, and coagulation activity in severe hemophilia A and B patients with inhibitors.

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