Catalyst Biosciences (CBIO) Stock Price Up 17.9% on Analyst Upgrade
Shares of Catalyst Biosciences Inc (NASDAQ:CBIO) rose 17.9% on Friday after Chardan Capital raised their price target on the stock from $10.00 to $75.00. Chardan Capital currently has a buy rating on the stock. Catalyst Biosciences traded as high as $33.81 and last traded at $32.15. Approximately 2,085,995 shares changed hands during mid-day trading, an increase of 355% from the average daily volume of 458,839 shares. The stock had previously closed at $27.28.
CBIO has been the topic of a number of other research reports. B. Riley initiated coverage on shares of Catalyst Biosciences in a research report on Friday, December 8th. They issued a “buy” rating and a $19.00 target price on the stock. Zacks Investment Research lowered shares of Catalyst Biosciences from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Finally, ValuEngine upgraded shares of Catalyst Biosciences from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $30.00.
Large investors have recently modified their holdings of the company. Virtu KCG Holdings LLC acquired a new position in shares of Catalyst Biosciences during the second quarter worth $103,000. Bank of New York Mellon Corp acquired a new position in shares of Catalyst Biosciences during the second quarter worth $107,000. Vanguard Group Inc. lifted its holdings in shares of Catalyst Biosciences by 294.1% during the second quarter. Vanguard Group Inc. now owns 43,714 shares of the biopharmaceutical company’s stock worth $204,000 after purchasing an additional 32,621 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Catalyst Biosciences during the second quarter worth $372,000. Institutional investors own 22.89% of the company’s stock.
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Catalyst Biosciences Company Profile
Catalyst Biosciences, Inc, formerly Targacept, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on creating and developing medicines to address serious medical conditions. The Company focuses its product development efforts in the fields of hemostasis, including the treatment of hemophilia and surgical bleeding, and inflammation, including prevention of delayed graft function (DGF) in renal transplants and the treatment of dry age-related macular degeneration (dry AMD), a condition that can cause visual impairment or blindness.
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