Catabasis Pharmaceuticals, Inc. (CATB) Shares Up 13.8%

Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) shot up 13.8% during mid-day trading on Wednesday . The company traded as high as $2.60 and last traded at $2.56. 1,490,389 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 2,653,890 shares. The stock had previously closed at $2.25.

A number of brokerages recently issued reports on CATB. Wedbush reissued an “outperform” rating and issued a $4.00 target price on shares of Catabasis Pharmaceuticals in a research report on Wednesday, June 21st. HC Wainwright lifted their target price on Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Citigroup Inc. set a $3.50 target price on Catabasis Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, October 5th. Cowen and Company reissued a “market perform” rating and issued a $2.00 target price on shares of Catabasis Pharmaceuticals in a research report on Friday, October 6th. Finally, Oppenheimer Holdings, Inc. lifted their target price on Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, October 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $5.42.

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

Several institutional investors have recently modified their holdings of the company. Virtu KCG Holdings LLC purchased a new stake in shares of Catabasis Pharmaceuticals in the second quarter worth approximately $271,000. Oppenheimer & Co. Inc. raised its stake in shares of Catabasis Pharmaceuticals by 33.3% in the second quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock worth $169,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Catabasis Pharmaceuticals in the first quarter worth approximately $106,000. 32.90% of the stock is 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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