Catabasis Pharmaceuticals Inc (NASDAQ:CATB) shares fell 0.9% on Tuesday . The stock traded as low as $1.00 and last traded at $1.07. 52,302 shares changed hands during trading, a decline of 75% from the average session volume of 207,199 shares. The stock had previously closed at $1.08.
Several brokerages have recently weighed in on CATB. Zacks Investment Research raised shares of Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research report on Tuesday, March 20th. Wedbush boosted their price target on shares of Catabasis Pharmaceuticals from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Tuesday, March 20th. Finally, ValuEngine raised shares of Catabasis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Catabasis Pharmaceuticals currently has an average rating of “Buy” and an average price target of $5.18.
The stock has a market cap of $38.91 million, a P/E ratio of -0.88 and a beta of 0.74.
Catabasis Pharmaceuticals (NASDAQ:CATB) last posted its earnings results on Thursday, May 10th. The biotechnology company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.06). sell-side analysts forecast that Catabasis Pharmaceuticals Inc will post -1.04 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Deutsche Bank AG acquired a new position in Catabasis Pharmaceuticals in the fourth quarter valued at about $335,000. Geode Capital Management LLC lifted its position in Catabasis Pharmaceuticals by 146.1% in the fourth quarter. Geode Capital Management LLC now owns 76,612 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 45,476 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Catabasis Pharmaceuticals by 167.2% in the fourth quarter. Renaissance Technologies LLC now owns 468,700 shares of the biotechnology company’s stock valued at $698,000 after buying an additional 293,300 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.
Catabasis Pharmaceuticals Company Profile
Catabasis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics based on safely metabolized and rationally targeted (SMART) linker drug discovery platform in the United States. The company's lead product candidate is Edasalonexent, an oral small molecule, which completed Phase II clinical trial for the treatment of duchenne muscular dystrophy (DMD), as well as Phase I clinical trial for the treatment of additional rare diseases.
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