Catabasis Pharmaceuticals (CATB) Shares Up 7.8%

Catabasis Pharmaceuticals Inc (NASDAQ:CATB) shot up 7.8% during trading on Thursday . The company traded as high as $0.70 and last traded at $0.69. 832,887 shares changed hands during trading, a decline of 5% from the average session volume of 880,988 shares. The stock had previously closed at $0.64.

A number of research firms recently commented on CATB. Zacks Investment Research lowered Catabasis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Citigroup decreased their price objective on Catabasis Pharmaceuticals from $2.50 to $1.50 and set a “buy” rating on the stock in a research report on Friday, August 10th. Finally, Wedbush set a $3.00 price objective on Catabasis Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 9th.

The stock has a market cap of $56.83 million, a P/E ratio of -0.55 and a beta of 0.56.

Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its quarterly earnings data on Friday, August 10th. The biotechnology company reported ($0.20) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.03. As a group, equities analysts forecast that Catabasis Pharmaceuticals Inc will post -0.75 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Catabasis Pharmaceuticals stock. Stonepine Capital Management LLC acquired a new stake in Catabasis Pharmaceuticals Inc (NASDAQ:CATB) during the second quarter, according to its most recent filing with the SEC. The firm acquired 2,400,000 shares of the biotechnology company’s stock, valued at approximately $2,302,000. Catabasis Pharmaceuticals comprises approximately 1.4% of Stonepine Capital Management LLC’s holdings, making the stock its 18th largest holding. Stonepine Capital Management LLC owned about 8.27% of Catabasis Pharmaceuticals as of its most recent filing with the SEC. 41.21% of the stock is currently owned by institutional investors and hedge funds.

About Catabasis Pharmaceuticals (NASDAQ:CATB)

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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