SAB Biotherapeutics (NASDAQ:SABS) announced its quarterly earnings results on September 19, 2023, revealing an earnings per share (EPS) of ($0.21). This figure outperformed the consensus estimate of ($0.59) by $0.38, according to Zacks Investment Research. The positive results have led to a 4.5% rise in the company’s stock, which traded at $3.24 during midday trading.
Trading volume was notably active, with 266,725 shares exchanged, surpassing the average volume of 257,585. Over the past year, SAB Biotherapeutics’ stock has fluctuated between a low of $1.00 and a high of $6.60. The company’s current market capitalization stands at $33.73 million, with a price-to-earnings ratio of -0.81.
Analyst Ratings and Institutional Activity
Recently, several analysts have expressed differing views on SAB Biotherapeutics’ stock. On September 17, Leerink Partners initiated coverage with an “outperform” rating and a target price of $7.00. Conversely, Wall Street Zen downgraded the stock to a “sell” rating on September 20. In a separate note, Weiss Ratings reiterated a “sell (d-)” rating. However, Chardan Capital maintained a “buy” rating and set a target price of $12.00.
Overall, the stock currently holds an average rating of “Moderate Buy” with a price target of $9.33, as reported by MarketBeat. One analyst has rated the stock as a Strong Buy, while three others have given it a Buy rating.
Institutional investors have also shown interest, with several firms adjusting their stakes in SAB Biotherapeutics. Dimensional Fund Advisors LP acquired a new position valued at $32,000, while ADAR1 Capital Management LLC purchased a stake worth $30,000. Virtu Financial LLC added a position valued at approximately $40,000. Institutional investors and hedge funds currently own 7.82% of the stock.
Company Overview and Focus
SAB Biotherapeutics is a clinical-stage biopharmaceutical company dedicated to developing human polyclonal immunotherapeutic antibodies aimed at treating immune system disorders and infectious diseases. The company utilizes advanced genetic engineering techniques to create transchromosomic bovine herds that produce fully human antibodies targeting various health issues, including infectious diseases, autoimmune disorders, and oncology.
With its focus on innovative therapies, SAB Biotherapeutics plays a significant role in addressing critical health challenges, including influenza, organ transplantation, and gastrointestinal diseases. As the company continues to develop its pipeline and expand its market presence, stakeholders will be closely monitoring its progress and the impact of recent earnings results on future performance.
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