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Catabasis Pharmaceuticals (CATB) Stock Rating Lowered by Zacks Investment Research

Catabasis Pharmaceuticals (NASDAQ:CATB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, May 11th.

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According to Zacks, “Catabasis Pharmaceuticals, Inc. is a biopharmaceutical company. The Company focuses on the discovery, development and commercialization of therapeutics for treatment of inflammatory, immunological and metabolic diseases. Its product development pipeline includes CAT-1004, CAT-2000 series including CAT-2054 and CAT-2003, CAT-4001 as well as various programs which are in different clinical-stage. Catabasis Pharmaceuticals, Inc. is based in Cambridge, Massachusetts. “

CATB has been the subject of several other research reports. Wedbush increased their target price on Catabasis Pharmaceuticals from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 20th. ValuEngine raised Catabasis Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $5.18.

Catabasis Pharmaceuticals traded up $0.03, reaching $1.62, during midday trading on Friday, according to MarketBeat Ratings. 96,804 shares of the company’s stock traded hands, compared to its average volume of 711,805. Catabasis Pharmaceuticals has a 52 week low of $1.09 and a 52 week high of $3.78. The firm has a market capitalization of $46.46 million, a price-to-earnings ratio of -1.29 and a beta of 0.70.

Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its earnings results on Thursday, May 10th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.06). analysts anticipate that Catabasis Pharmaceuticals will post -1.04 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Catabasis Pharmaceuticals by 146.1% during the 4th quarter. Geode Capital Management LLC now owns 76,612 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 45,476 shares in the last quarter. Deutsche Bank AG purchased a new stake in Catabasis Pharmaceuticals during the 4th quarter valued at $335,000. Finally, Renaissance Technologies LLC boosted its stake in Catabasis Pharmaceuticals by 167.2% during the 4th quarter. Renaissance Technologies LLC now owns 468,700 shares of the biotechnology company’s stock valued at $698,000 after purchasing an additional 293,300 shares during the last quarter. 25.32% of the stock is owned by institutional investors.

Catabasis Pharmaceuticals Company Profile

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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