SAB Biotherapeutics (NASDAQ:SABS) Stock Price Down 2.4% - Here's What Happened

Key Points

• SAB Biotherapeutics shares fell 2.4% to $3.21 in mid-day trading, with volume 36% above its average; the stock remains below its 50-day and 200-day moving averages.
• Analysts remain broadly optimistic, with nine Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $12.00—well above the current price.
• Institutional ownership stands at 7.82%, led by Perceptive Advisors, which increased its stake by 700.8%; the clinical-stage biotech reported quarterly EPS of negative $0.28, in line with estimates.

SAB Biotherapeutics, Inc. (NASDAQ:SABS - Get Free Report) shares were down 2.4% during mid-day trading on Monday. The company traded as low as $3.14 and last traded at $3.21. 697,891 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 511,300 shares. The stock had previously closed at $3.29.

Analyst Ratings Changes

A number of analysts have weighed in on SABS shares. Wall Street Zen raised shares of SAB Biotherapeutics from a "strong sell" rating to a "sell" rating in a report on Monday, August 10th. Leerink Partners upped their target price on shares of SAB Biotherapeutics from $7.00 to $12.00 and gave the company an "outperform" rating in a report on Monday, June 15th. Barclays assumed coverage on shares of SAB Biotherapeutics in a research report on Wednesday, June 24th. They issued an "overweight" rating and a $13.00 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $10.00 price target on shares of SAB Biotherapeutics in a research note on Monday, June 15th. Finally, Weiss Ratings upgraded shares of SAB Biotherapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 17th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SAB Biotherapeutics currently has an average rating of "Moderate Buy" and an average price target of $12.00.

SAB Biotherapeutics Stock Down 2.4%

The business has a 50 day moving average of $3.63 and a 200-day moving average of $3.72. The stock has a market cap of $292.08 million, a PE ratio of -2.47 and a beta of 0.53. The company has a current ratio of 9.22, a quick ratio of 9.22 and a debt-to-equity ratio of 0.01.

SAB Biotherapeutics (NASDAQ:SABS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.28) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.28). Equities research analysts predict that SAB Biotherapeutics, Inc. will post -1.17 EPS for the current fiscal year.

Institutional Trading of SAB Biotherapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Perceptive Advisors LLC boosted its stake in SAB Biotherapeutics by 700.8% during the 1st quarter. Perceptive Advisors LLC now owns 6,431,743 shares of the company's stock worth $24,634,000 after purchasing an additional 5,628,533 shares during the period. Spruce Street Capital LP acquired a new position in SAB Biotherapeutics in the fourth quarter valued at $8,222,000. Seven Fleet Capital Management LP raised its holdings in shares of SAB Biotherapeutics by 47.2% in the second quarter. Seven Fleet Capital Management LP now owns 736,077 shares of the company's stock valued at $2,871,000 after buying an additional 236,077 shares during the last quarter. Propel Bio Management LLC purchased a new stake in shares of SAB Biotherapeutics in the fourth quarter valued at about $2,442,000. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of SAB Biotherapeutics during the first quarter worth about $2,202,000. Hedge funds and other institutional investors own 7.82% of the company's stock.

About SAB Biotherapeutics

SAB Biotherapeutics, Inc is a clinical-stage biopharmaceutical company developing targeted antibody-based medicines for infectious diseases and immune-mediated conditions. The company's approach is designed to produce fully human polyclonal antibodies that can recognize and neutralize multiple targets associated with a disease.

SAB's technology platform, known as DiversitAb, uses genetically engineered cattle that are capable of producing human antibodies. Antibodies harvested from the animals' plasma are evaluated for potential use as therapeutics.

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