Catabasis Pharmaceuticals Inc. (CATB) started the trading day on a down note, making it one of the worst performing stocks in the health care sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 23. Shares of CATB have fallen 10.0% about 30 minutes into the session to $4.5 after closing the day prior at $5.0. It’s early, but the stock has traded as high as $4.74 and as low as $4.33 so far. Today’s quick decline has come with about 42,037 shares changing hands, compared to an average 30-day volume of 53,339 for Catabasis Pharmaceuticals Inc.. The price is currently below the 30-day volume weighted average price of $4.55 for CATB.
The share depreciation gives the company a market capitalization of $76.91 million based upon 15.38 million shares outstanding. It also means that CATB has a price-to-book ratio of 2.34:1.
In the past 52 weeks, shares of CATB have traded as low as $3.31 and as high as $10.83. Technical traders will take note that at $4.5, shares of CATB are trading below their 200-day MA at $5.36 and above their 50-day MA at $4.43. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is CATB?
Catabasis Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics based on its proprietary Safely Metabolized And Rationally Targeted linker technology platform. The company’s 37 employees are led by CEO Jill C. Milne from the corporate headquarters at One Kendall Square in Cambridge, MA.
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