Catabasis Pharmaceuticals (CATB) Shares Up 0%

Catabasis Pharmaceuticals Inc (NASDAQ:CATB)’s share price shot up 0% during trading on Tuesday . The stock traded as high as $1.77 and last traded at $1.60. 5,523,000 shares changed hands during mid-day trading, an increase of 331% from the average session volume of 1,280,352 shares. The stock had previously closed at $1.60.

Several brokerages have commented on CATB. Wedbush reiterated an “outperform” rating and issued a $4.00 price target on shares of Catabasis Pharmaceuticals in a research note on Friday, December 15th. Zacks Investment Research upgraded shares of Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.75 price target on the stock in a research note on Thursday, November 16th. Finally, Citigroup upgraded shares of Catabasis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Monday, November 20th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $4.82.

The stock has a market cap of $36.93, a P/E ratio of -1.06 and a beta of 1.20.

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake 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 purchasing an additional 45,476 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Catabasis Pharmaceuticals by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 169,000 shares of the biotechnology company’s stock worth $358,000 after acquiring an additional 49,000 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Catabasis Pharmaceuticals during the fourth quarter worth approximately $335,000. Wedbush Securities Inc. grew its position in shares of Catabasis Pharmaceuticals by 2,368.6% during the third quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock worth $534,000 after acquiring an additional 241,602 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of 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 last quarter. Institutional investors own 32.40% 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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