Bio-Path Holdings, Inc. (NASDAQ:BPTH) shares dropped 1.2% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $0.29 and last traded at $0.30, with a volume of 692,303 shares trading hands. The stock had previously closed at $0.30.

The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.01.

BPTH has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Bio-Path Holdings in a report on Tuesday, July 4th. Zacks Investment Research cut shares of Bio-Path Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th.

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new position in shares of Bio-Path Holdings during the first quarter valued at approximately $105,000. Bank of New York Mellon Corp raised its position in shares of Bio-Path Holdings by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 311,645 shares of the company’s stock valued at $257,000 after buying an additional 5,172 shares during the last quarter. Sabby Management LLC raised its position in shares of Bio-Path Holdings by 3.5% in the first quarter. Sabby Management LLC now owns 687,398 shares of the company’s stock valued at $569,000 after buying an additional 23,352 shares during the last quarter. Legal & General Group Plc raised its position in shares of Bio-Path Holdings by 5,474.3% in the second quarter. Legal & General Group Plc now owns 1,773,799 shares of the company’s stock valued at $681,000 after buying an additional 1,741,978 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Bio-Path Holdings by 9.1% in the first quarter. HighTower Advisors LLC now owns 1,263,070 shares of the company’s stock valued at $1,043,000 after buying an additional 105,000 shares during the last quarter. 19.90% of the stock is owned by hedge funds and other institutional investors.

The company’s market capitalization is $28.37 million. The company’s 50-day moving average is $0.38 and its 200 day moving average is $0.61.

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Bio-Path Holdings Company Profile

Bio-Path Holdings, Inc is a clinical and preclinical stage oncology focused antisense drug development company. The Company utilizes a technology that achieves systemic delivery for target specific protein inhibition for any gene product that is over-expressed in disease. Its drug delivery and antisense technology, DNAbilize, is a platform that uses P-ethoxy, a deoxyribonucleic acid backbone modification.

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