Catabasis Pharmaceuticals Inc (NASDAQ:CATB) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 584,700 shares, a decrease of 5.2% from the July 31st total of 616,500 shares. Approximately 5.5% of the company’s shares are short sold. Based on an average daily trading volume, of 62,900 shares, the short-interest ratio is currently 9.3 days.
Shares of NASDAQ:CATB traded up $0.04 during mid-day trading on Friday, reaching $6.04. 29,060 shares of the company were exchanged, compared to its average volume of 33,725. The firm has a market cap of $69.70 million, a price-to-earnings ratio of -1.18 and a beta of 1.75. The firm’s 50-day simple moving average is $6.49 and its 200 day simple moving average is $7.03. Catabasis Pharmaceuticals has a 1 year low of $3.60 and a 1 year high of $9.76.
Catabasis Pharmaceuticals (NASDAQ:CATB) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.06). On average, research analysts predict that Catabasis Pharmaceuticals will post -2.52 earnings per share for the current year.
Several analysts have recently weighed in on CATB shares. Wedbush reissued an “outperform” rating and issued a $18.00 price target on shares of Catabasis Pharmaceuticals in a research note on Monday, July 29th. Zacks Investment Research cut shares of Catabasis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 16th. Finally, ValuEngine raised shares of Catabasis Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th.
Catabasis Pharmaceuticals Company Profile
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 that inhibits nuclear factor kappa-light-chain-enhancer of activate B cells, which is in Phase III clinical trial for the treatment of duchenne muscular dystrophy (DMD).
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