Catabasis Pharmaceuticals Inc (NASDAQ:CATB) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 389,146 shares, a drop of 52.0% from the July 13th total of 810,899 shares. Based on an average daily trading volume, of 820,745 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.6% of the company’s stock are short sold.

NASDAQ:CATB opened at $0.65 on Tuesday. The company has a market cap of $19.51 million, a price-to-earnings ratio of -0.53 and a beta of 0.56. Catabasis Pharmaceuticals has a twelve month low of $0.61 and a twelve month high of $3.78.

Catabasis Pharmaceuticals (NASDAQ:CATB) last posted its quarterly earnings results on Friday, August 10th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. sell-side analysts forecast that Catabasis Pharmaceuticals will post -1.04 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on CATB. ValuEngine raised Catabasis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Zacks Investment Research lowered Catabasis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, May 11th. Citigroup lowered their price target on Catabasis Pharmaceuticals from $2.50 to $1.50 and set a “buy” rating on the stock in a research report on Friday. Finally, Wedbush set a $3.00 price target on Catabasis Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Catabasis Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $4.54.

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of Catabasis Pharmaceuticals by 146.1% during the 4th quarter. Geode Capital Management LLC now owns 76,612 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 45,476 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Catabasis Pharmaceuticals during the 4th quarter worth approximately $335,000. Renaissance Technologies LLC increased its position in shares of Catabasis Pharmaceuticals by 167.2% during the 4th quarter. Renaissance Technologies LLC now owns 468,700 shares of the biotechnology company’s stock worth $698,000 after purchasing an additional 293,300 shares during the last quarter. Finally, Federated Investors Inc. PA acquired a new position in shares of Catabasis Pharmaceuticals during the 2nd quarter worth approximately $10,006,000. 26.83% of the stock is currently owned by hedge funds and other institutional investors.

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, which completed Phase II clinical trial for the treatment of duchenne muscular dystrophy (DMD), as well as Phase I clinical trial for the treatment of additional rare diseases.

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