Citizens JMP analyst Reni Benjamin downgraded BioAtla (BCAB) to Market Perform from Outperform without a price target following the Q2 report. The firm views the shares as fairly valued given expecatatations for no revenue or earnings in the near future. BioAtla is facing an evolving landscape and uncertainty regarding a potential partnership, the analyst tells investors in a research note. With a partnership, Citizens views the company’s current cash position as insufficient to sustain operations.
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