Catabasis Pharmaceuticals Inc (NASDAQ:CATB) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 560,000 shares, a growth of 20.8% from the September 30th total of 463,400 shares. Based on an average trading volume of 73,200 shares, the short-interest ratio is presently 7.7 days. Approximately 5.2% of the shares of the stock are short sold.
NASDAQ:CATB traded up $0.08 during midday trading on Tuesday, hitting $5.43. The company had a trading volume of 2,106 shares, compared to its average volume of 84,486. Catabasis Pharmaceuticals has a 52-week low of $3.60 and a 52-week high of $9.76. The stock’s fifty day moving average price is $5.06 and its 200-day moving average price is $6.49. The company has a market capitalization of $60.40 million, a PE ratio of -1.06 and a beta of 1.73.
Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.07. On average, sell-side analysts predict that Catabasis Pharmaceuticals will post -2.52 earnings per share for the current year.
Several brokerages recently issued reports on CATB. Wedbush reiterated an “outperform” rating and issued a $18.00 target price on shares of Catabasis Pharmaceuticals in a research report on Monday, July 29th. Citigroup cut their target price on shares of Catabasis Pharmaceuticals from $72.00 to $60.00 in a research report on Friday. ValuEngine upgraded shares of Catabasis Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research lowered shares of Catabasis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 16th.
About Catabasis Pharmaceuticals
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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