Shares of Catabasis Pharmaceuticals Inc (NASDAQ:CATB) dropped 10.9% during trading on Monday . The company traded as low as $0.71 and last traded at $0.71. Approximately 2,325,963 shares traded hands during mid-day trading, an increase of 160% from the average daily volume of 893,212 shares. The stock had previously closed at $0.80.

A number of research firms have recently issued reports on CATB. Zacks Investment Research upgraded shares of Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 target price for the company in a research note on Tuesday, August 14th. ValuEngine upgraded shares of Catabasis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Citigroup cut their target price on shares of Catabasis Pharmaceuticals from $2.50 to $1.50 and set a “buy” rating for the company in a research note on Friday, August 10th. Finally, Wedbush set a $3.00 target price on shares of Catabasis Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $3.54.

The company has a market capitalization of $50.44 million, a PE ratio of -0.56 and a beta of 0.59.

Catabasis Pharmaceuticals (NASDAQ:CATB) last posted its earnings results on Friday, August 10th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. analysts predict that Catabasis Pharmaceuticals Inc will post -0.75 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stonepine Capital Management LLC acquired a new stake in shares of Catabasis Pharmaceuticals during the 2nd quarter worth about $2,302,000. Federated Investors Inc. PA bought a new position in Catabasis Pharmaceuticals during the second quarter worth about $10,006,000. Deutsche Bank AG bought a new position in Catabasis Pharmaceuticals during the fourth quarter worth about $335,000. Finally, Renaissance Technologies LLC increased its position in Catabasis Pharmaceuticals by 167.2% during the fourth quarter. Renaissance Technologies LLC now owns 468,700 shares of the biotechnology company’s stock worth $698,000 after acquiring an additional 293,300 shares during the period. Institutional investors own 41.21% of the company’s stock.

Catabasis Pharmaceuticals Company Profile (NASDAQ:CATB)

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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