Catabasis Pharmaceuticals Inc (NASDAQ:CATB) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,041,157 shares, a growth of 66.8% from the May 31st total of 624,147 shares. Approximately 4.9% of the company’s shares are short sold. Based on an average daily trading volume, of 290,944 shares, the short-interest ratio is presently 3.6 days.
CATB opened at $0.96 on Friday. The company has a market cap of $26.98 million, a PE ratio of -0.76 and a beta of 0.74. Catabasis Pharmaceuticals has a 52-week low of $0.86 and a 52-week high of $3.78.
Catabasis Pharmaceuticals (NASDAQ:CATB) last posted its quarterly earnings data on Thursday, May 10th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). sell-side analysts forecast that Catabasis Pharmaceuticals will post -1.04 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Catabasis Pharmaceuticals by 146.1% during the fourth quarter. Geode Capital Management LLC now owns 76,612 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 45,476 shares during the period. Deutsche Bank AG bought a new stake in shares of Catabasis Pharmaceuticals in the fourth quarter worth $335,000. Finally, Renaissance Technologies LLC increased its stake in shares of Catabasis Pharmaceuticals by 167.2% in the fourth quarter. Renaissance Technologies LLC now owns 468,700 shares of the biotechnology company’s stock worth $698,000 after buying an additional 293,300 shares during the last quarter. Institutional investors own 26.81% of the company’s stock.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Tuesday, March 20th. ValuEngine upgraded shares of Catabasis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Finally, Wedbush lifted their price objective on shares of Catabasis Pharmaceuticals from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Tuesday, March 20th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Catabasis Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $5.18.
About Catabasis Pharmaceuticals
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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