BlackRock Fund Advisors recently announced the acquisition of new stake in Catabasis Pharmaceuticals Inc. (NASDAQ:CATB). The institutional investor has increased its shareholding in the Healthcare company by 321.04% to 0.98 million shares with purchase of 0.75 million shares. This fresh investment now brings its stake to 5.48% valued currently at $5.67 million. In addition, Altium Capital Management LP raised its holdings by 0.93 million to 0.93 million shares. And The Vanguard Group, Inc. has lifted its position by 5.89% or 39522.0 shares – to 0.71 million shares.
With over 1.9 million Catabasis Pharmaceuticals Inc. (CATB) shares trading Friday and a closing price of $7.55 on the day, the dollar volume was approximately $14.36 million. The shares have shown a positive weekly performance of 10.22% and its price on 08/21/20 gained nearly 12.18%. Currently, there are 19.08M common shares owned by the public and among those 19.05M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for CATB have a consensus price objective of $37.50. The analysts have set the share’s price value over the next 12 months at a high of $60.00 and a low of $15.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Catabasis Pharmaceuticals Inc. stock is 1.00 for the next 12 months. But an upside of 87.42% will see the stock hit the forecast high price target while mean target price for the stock is $37.50.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Catabasis Pharmaceuticals Inc. are Federated Hermes Kaufmann Fund, Federated Hermes Kaufmann Small C, and Vanguard Total Stock Market Index. Federated Hermes Kaufmann Fund owns 1.78 million shares of the company’s stock, all valued at over $10.29 million. Vanguard Total Stock Market Index bought 60316.0 shares to bring its total holdings to over 0.48 million shares at a value of $2.8 million. Vanguard Total Stock Market Index now owns shares totaling to 2.71% of the shares outstanding.
Shares of Catabasis Pharmaceuticals Inc. (NASDAQ: CATB) opened at $6.71, down -$0.02 from a prior closing price of $6.73. However, the script later closed the day at $7.55, up 12.18%. The company’s stock has a 5-day price change of 10.22% and 22.76% over the past three months. CATB shares are trading 27.75% year to date (YTD), with the 12-month market performance up to 12.52% higher. It has a 12-month low price of $2.74 and touched a high of $7.73 over the same period. Currently, 1.9 million shares have been traded, compared to an average intraday trading volume of 223.58K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.28%, 13.08%, and 32.01% respectively.
Institutional ownership of Catabasis Pharmaceuticals Inc. (NASDAQ: CATB) shares accounts for 52.20% of the company’s 19.08M shares outstanding. Mutual fund holders own 17.05%, while other institutional holders and individual stakeholders account for 28.53% and 0.15% respectively.
It has a market capitalization of $128.43M and a beta (3y monthly) value of 1.73. The earnings-per-share (ttm) stands at -$2.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.68% over the week and 6.23% over the month.
Analysts forecast that Catabasis Pharmaceuticals Inc. (CATB) will achieve an EPS of -$0.51 for the current quarter, -$0.49 for the next quarter and -$1.66 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.52 while analysts give the company a high EPS estimate of -$0.51. Comparatively, EPS for the current quarter was -$0.56 a year ago. Earnings per share for the fiscal year are expected to increase by 54.10%, and 18.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Catabasis Pharmaceuticals Inc. (CATB) as a “Strong Buy” at a consensus score of 1.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CATB, a number of firms have released research notes about the stock. Oppenheimer stated their Outperform rating for the stock in a research note on October 05, 2017, with the firm’s price target at $4-$7. Citigroup coverage for the Catabasis Pharmaceuticals Inc. (CATB) stock in a research note released on February 02, 2017 offered a Neutral rating with a price target of. H.C. Wainwright was of a view on December 22, 2016 that the stock is Buy, while Wedbush gave the stock Outperform rating on June 08, 2016, issuing a price target of $27- $17. Wedbush on their part issued Outperform rating on July 20, 2015.