SAB Biotherapeutics (SABS) AI Stock Analysis

• Market Cap: $190.43M
• Dividend Yield: N/A
• Average Volume (3M): 398.22K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.77
• Revenue Growth: -92.42%
• EPS Growth: 62.37%
• Country: US
• Employees: 63
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.21
• Shares Outstanding: 47,606,850
• 10 Day Avg. Volume: 357,955
• 30 Day Avg. Volume: 398,221
• PEG Ratio: 0.02
• Price to Book (P/B): 1.35
• Price to Sales (P/S): 26.55
• P/FCF Ratio: -1.01
• Enterprise Value/Market Cap: 0.09
• Enterprise Value/Revenue: 148.36
• Enterprise Value/Gross Profit: -5.60
• Enterprise Value/Ebitda: 0.77
• 1Y Price Target: $10.33
• Price Target Upside: 158.25% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $3.50 ▼(-12.50% Downside)

The score is held back primarily by weak financial performance (sharp revenue contraction, negative gross profit, and sustained cash burn). Technicals are neutral-to-slightly constructive (above key longer-term moving averages with neutral momentum), while corporate updates provide some support but are tempered by dilution risk from the new ATM program; valuation is constrained by ongoing losses and no dividend.

Positive Factors

Proprietary immunoglobulin-producing animal platform

SAB's proprietary immunoglobulin-producing animal platform enables generation of polyclonal antibodies across infectious, autoimmune, and oncology indications. This differentiated technology creates technical barriers and durable R&D optionality, supporting scalable biologics development and long-term pipeline diversification if clinical programs advance.

Established government and partner funding relationships

Ongoing U.S. government grants and pharmaceutical partnerships provide non-dilutive capital, external validation, and potential milestone/royalty revenue. These durable funding channels reduce near-term financing pressure, support multi-year clinical programs, and lower execution risk compared with firms fully dependent on equity raises.

Modest leverage and low debt-to-equity

A relatively low debt burden gives SAB financial flexibility to pursue development milestones without heavy interest expense. This structural balance sheet strength enhances optionality for strategic partnerships or asset transactions and provides cushion against short-term liquidity shocks while executing clinical programs.

Negative Factors

Persistent negative operating and free cash flow

Sustained negative operating and free cash flow since 2022 indicates ongoing cash burn to fund R&D and operations. Persistent cash deficits necessitate repeated external financing, increasing execution risk for pivotal trials and making long-term program continuity contingent on capital markets or partners rather than internal cash generation.

Sharp revenue contraction and negative gross profit

Significant revenue decline since 2021 and negative gross profit in 2023–TTM show current operations do not cover direct costs. This structural revenue and margin weakness signals the business is not yet scalable, heightening reliance on successful clinical outcomes or new commercial products to restore sustainable profitability.

Dilution risk from $75M at-the-market (ATM) program

The $75M ATM program expands capacity for equity issuance, increasing dilution risk given ongoing losses and cash burn. Reliance on equity as a structural financing mechanism can erode shareholder value over time and complicate long-term capital planning for registrational trials and potential commercialization.

SAB Biotherapeutics Business Overview & Revenue Model

Company Description

SAB Biotherapeutics, Inc., a clinical-stage biopharmaceutical company, engages in the development of immunotherapies based on human antibodies. It has applied advanced genetic engineering and antibody science to develop transchromosomic bovine herds that produce fully human antibodies targeted at specific diseases, including infectious diseases comprising COVID-19 and influenza, immune and autoimmune disorders, such as type 1 diabetes, organ transplantation, and cancer. The company uses its DiversitAb immunotherapy platform to produce fully-human polyclonal antibodies without the need for human donors. Its lead product candidates include SAB-185, a fully-human polyclonal antibody therapeutic candidate that is in Phase III clinical trial for the treatment of COVID-19; and SAB-176, a fully-human polyclonal antibody therapeutic candidate that is in development to treat or prevent severe influenza. The company's pre-clinical product candidates in development for autoimmune diseases include SAB-142 for type 1 diabetes and organ transplant induction/rejection. The company was founded in 2014 and is based in Sioux Falls, South Dakota.

How the Company Makes Money

SAB Biotherapeutics generates revenue through multiple channels, including government and private sector grants, partnerships with pharmaceutical companies for the development and commercialization of its therapeutic products, and potential product sales once therapies are approved and brought to market. The company has established significant collaborations with organizations such as the U.S. government for funding and support in developing treatments, which contribute to its revenue streams. Additionally, SAB may earn royalties or milestone payments from partners as products progress through clinical trials and achieve regulatory approvals.

SAB Biotherapeutics Financial Statement Overview

Summary

SAB Biotherapeutics faces significant financial challenges, with declining revenues, persistent losses, and cash flow difficulties. The balance sheet shows some stability, but the negative cash flow and profitability metrics highlight the need for strategic improvements.

Income Statement

SAB Biotherapeutics has experienced a significant decline in revenue over recent years, with total revenue falling from $60.88 million in 2021 to just $1.32 million in 2024. The company has maintained negative EBIT and net income, indicating ongoing operational challenges. Margins have remained weak, with a negative net profit margin, reflecting persistent losses.

Balance Sheet

The company's balance sheet shows a relatively high debt-to-equity ratio, indicating a reliance on debt financing. However, the equity ratio remains reasonable, suggesting some level of financial stability. Stockholders' equity has decreased over the years, which could be a concern if this trend continues.

Cash Flow

SAB Biotherapeutics has faced challenges in generating positive operating cash flow, with significant negative free cash flow in recent years. The company has also shown volatility in financing cash flows, suggesting potential difficulties in maintaining liquidity and funding operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	114.70K	1.32M	2.24M	23.90M	60.88M	55.24M
Gross Profit	-3.04M	-3.47M	-1.51M	20.61M	59.22M	55.24M
EBITDA	22.14M	-28.99M	-38.13M	-15.12M	-15.20M	21.14M
Net Income	-21.37M	-34.11M	-42.19M	-18.74M	-17.14M	20.12M
Balance Sheet
Total Assets	183.45M	44.20M	83.94M	50.90M	81.14M	56.54M
Cash, Cash Equivalents and Short-Term Investments	110.88M	20.76M	56.57M	15.05M	33.21M	12.61M
Total Debt	6.19M	4.67M	5.91M	5.93M	8.52M	8.13M
Total Liabilities	18.37M	18.23M	26.64M	19.85M	42.59M	17.53M
Stockholders Equity	165.07M	25.97M	57.30M	31.06M	38.55M	39.01M
Cash Flow
Free Cash Flow	-37.33M	-34.63M	-25.32M	-25.63M	-8.96M	-2.73M
Operating Cash Flow	-37.27M	-34.29M	-25.12M	-23.46M	1.99M	10.00M
Investing Cash Flow	-110.67M	-11.96M	-152.70K	-2.09M	-10.94M	-12.72M
Financing Cash Flow	168.30M	-1.17M	66.77M	1.05M	35.89M	8.98M

SAB Biotherapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SABS, the sentiment is Positive. The current price of 4 is above the 20-day moving average (MA) of 3.83, above the 50-day MA of 3.72, and above the 200-day MA of 2.48, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 57.59 is Neutral, neither overbought nor oversold. The STOCH value of 73.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SABS.

SAB Biotherapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NXTC	54 Neutral	$45.43M	-0.53	-116.91%	―	―	3.78%
SNSE	52 Neutral	$15.11M	-0.54	-67.47%	―	―	9.63%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SABS	50 Neutral	$190.43M	-1.30	-21.16%	―	-92.42%	62.37%
LSTA	48 Neutral	$18.35M	-1.03	-71.45%	―	―	15.32%
RLYB	48 Neutral	$28.95M	-2.12	-21.17%	―	12.71%	79.93%

SAB Biotherapeutics Corporate Events

SAB Biotherapeutics Updates SAB-142 Roadmap and Funding Outlook

On January 12, 2026, SAB Biotherapeutics posted an updated corporate presentation outlining strong 2025 execution and a multi‑year clinical and financial roadmap centered on SAB‑142 for newly diagnosed Stage 3 Type 1 diabetes. The company reported that its registrational Phase 2b SAFEGUARD trial is expected to begin dosing in late 2025, complete enrollment by the end of 2026, and deliver topline data in the second half of 2027, supported by prior MELD and Phase 1 data indicating efficacy signals and a favorable safety profile without lymphodepletion or immunogenicity on redosing; with $144 million in cash and equivalents as of December 31, 2025 and projected runway through 2028, SAB Biotherapeutics signaled it is well funded to advance SAB‑142 within an expanding, clearly regulated T1D treatment landscape shaped by precedent therapies such as Tzield.

The most recent analyst rating on (SABS) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on SAB Biotherapeutics stock, see the SABS Stock Forecast page.

SAB Biotherapeutics Appoints New Independent Board Chair, Directors

On January 5, 2026, SAB Biotherapeutics appointed veteran biopharma executive David Zaccardelli, Pharm.D., and rheumatologist and drug development leader Rita Jain, M.D., as Class II directors, with Zaccardelli becoming Chair of the Board and both serving until the 2026 annual meeting. The appointments, announced publicly on January 7, 2026, follow RA Capital Healthcare Fund’s nomination rights stemming from SAB’s July 2025 private placement and keep CEO Samuel J. Reich on the board while shifting the chair role to an independent industry operator with a track record of leading companies through major growth, approvals, and M&A. Both Zaccardelli and Jain bring deep experience in late-stage development, commercialization, and autoimmune and inflammatory disease drug development, signaling SAB BIO’s intent to strengthen governance and board-level expertise as it advances its lead asset SAB-142 through registrational trials and prepares for potential commercialization in type 1 diabetes, a move likely to be closely watched by investors focused on execution risk and value creation in autoimmune therapeutics.

The most recent analyst rating on (SABS) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on SAB Biotherapeutics stock, see the SABS Stock Forecast page.

SAB Biotherapeutics Launches New $75 Million ATM Program

On December 29, 2025, SAB Biotherapeutics, Inc. entered into a new sales agreement with UBS Securities LLC to establish an at-the-market equity offering program allowing the company to issue and sell up to $75 million of its common stock from time to time on Nasdaq at prevailing market prices, with proceeds intended to support its development pipeline and general corporate purposes. This new program, under which SAB will pay UBS up to 3% of gross proceeds per share sale and which either party can terminate on ten days’ notice, follows the company’s December 17, 2025 termination of its prior $20 million at-the-market arrangement with Cantor Fitzgerald & Co., which ended without any associated costs or payments and cleared the way for the larger UBS-led facility.

The most recent analyst rating on (SABS) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on SAB Biotherapeutics stock, see the SABS Stock Forecast page.