Short Interest in Catabasis Pharmaceuticals, Inc. (CATB) Drops By 37.6%
Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) saw a significant decrease in short interest in September. As of September 15th, there was short interest totalling 444,251 shares, a decrease of 37.6% from the August 31st total of 712,505 shares. Based on an average daily volume of 794,436 shares, the short-interest ratio is presently 0.6 days. Approximately 3.0% of the shares of the stock are sold short.
Shares of Catabasis Pharmaceuticals (NASDAQ:CATB) opened at 2.64 on Tuesday. The company’s 50-day moving average price is $1.80 and its 200-day moving average price is $1.80. Catabasis Pharmaceuticals has a 52-week low of $1.08 and a 52-week high of $6.07. The stock’s market cap is $59.35 million.
Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.08. Analysts expect that Catabasis Pharmaceuticals will post ($1.39) earnings per share for the current year.
CATB has been the topic of several research reports. Citigroup Inc. reiterated a “hold” rating and issued a $1.50 price target on shares of Catabasis Pharmaceuticals in a research report on Friday. Oppenheimer Holdings, Inc. cut their price objective on Catabasis Pharmaceuticals from $9.00 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, August 15th. HC Wainwright lifted their price objective on Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Finally, Wedbush restated an “outperform” rating and set a $4.00 price objective on shares of Catabasis Pharmaceuticals in a research report on Wednesday, June 21st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Catabasis Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $4.00.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new stake in shares of Catabasis Pharmaceuticals during the first quarter worth $106,000. Oppenheimer & Co. Inc. acquired a new position in shares of Catabasis Pharmaceuticals in the 1st quarter valued at $144,000. Finally, Virtu KCG Holdings LLC acquired a new position in shares of Catabasis Pharmaceuticals in the 2nd quarter valued at $271,000. Institutional investors and hedge funds own 32.90% of the company’s stock.
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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