Catabasis Pharmaceuticals, Inc. (CATB) Stock Price Up 1.6%

Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB)’s share price rose 1.6% during trading on Thursday . The company traded as high as $1.87 and last traded at $1.86. Approximately 684,038 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 1,188,200 shares. The stock had previously closed at $1.83.

CATB has been the topic of a number of research analyst reports. Oppenheimer Holdings, Inc. decreased their price target on shares of Catabasis Pharmaceuticals from $9.00 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, August 15th. HC Wainwright increased their price target on shares of Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Finally, Wedbush reissued an “outperform” rating and issued a $4.00 price target on shares of Catabasis Pharmaceuticals in a report on Wednesday, June 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $4.50.

Catabasis Pharmaceuticals (NASDAQ:CATB) last released its earnings results on Thursday, August 10th. The biotechnology company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.08.

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in shares of Catabasis Pharmaceuticals in the first quarter worth $106,000. Oppenheimer & Co. Inc. purchased a new position in shares of Catabasis Pharmaceuticals in the first quarter worth $144,000. Finally, Virtu KCG Holdings LLC purchased a new position in shares of Catabasis Pharmaceuticals in the second quarter worth $271,000. 32.90% of the stock is currently owned by hedge funds and other institutional investors.

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Catabasis Pharmaceuticals Company Profile

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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