Catabasis Pharmaceuticals, Inc. (CATB) Shares Gap Up to $2.12
Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) gapped up prior to trading on Monday . The stock had previously closed at $1.94, but opened at $2.12. Catabasis Pharmaceuticals shares last traded at $2.64, with a volume of 5,408,589 shares trading hands.
CATB has been the topic of several recent analyst reports. Oppenheimer Holdings, Inc. dropped their price objective on Catabasis Pharmaceuticals from $9.00 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 15th. Citigroup Inc. reiterated a “hold” rating and issued a $1.50 target price on shares of Catabasis Pharmaceuticals in a research note on Friday. HC Wainwright upped their target price on shares of Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $4.00 target price on shares of Catabasis Pharmaceuticals in a research note on Wednesday, June 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $4.00.
The firm’s market cap is $59.35 million. The firm has a 50-day moving average price of $1.80 and a 200 day moving average price of $1.80.
Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.32) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.08. Analysts forecast that Catabasis Pharmaceuticals, Inc. will post ($1.39) earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu KCG Holdings LLC purchased a new stake in Catabasis Pharmaceuticals during the 2nd quarter valued at $271,000. Oppenheimer & Co. Inc. increased its holdings in shares of Catabasis Pharmaceuticals by 33.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock worth $169,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Catabasis Pharmaceuticals in the 1st quarter worth $106,000. Institutional investors and hedge funds own 32.90% of the company’s stock.
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About Catabasis Pharmaceuticals
Catabasis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics based on its Safely Metabolized And Rationally Targeted (SMART), a linker drug discovery platform. The SMART linker drug discovery platform enables to engineer product candidates that can modulate multiple targets in a disease.
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