Bio-Path (NASDAQ:BPTH) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of Bio-Path (NASDAQ:BPTH) from a sell rating to a hold rating in a research note issued to investors on Tuesday, ValuEngine reports.

Separately, HC Wainwright reissued a buy rating and set a $28.00 target price on shares of Bio-Path in a report on Monday.

BPTH traded down $0.05 during trading hours on Tuesday, hitting $9.80. 28,573 shares of the stock were exchanged, compared to its average volume of 1,233,311. The stock has a 50-day simple moving average of $10.67 and a 200-day simple moving average of $12.61. Bio-Path has a 12 month low of $1.61 and a 12 month high of $73.52. The stock has a market cap of $30.75 million, a price-to-earnings ratio of -0.69 and a beta of 3.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.85 and a quick ratio of 13.85.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Bio-Path by 10.3% during the second quarter. Vanguard Group Inc. now owns 27,925 shares of the company’s stock valued at $374,000 after buying an additional 2,601 shares during the last quarter. BlackRock Inc. grew its position in Bio-Path by 17.5% in the 2nd quarter. BlackRock Inc. now owns 46,879 shares of the company’s stock valued at $628,000 after buying an additional 6,978 shares in the last quarter. Finally, Morgan Stanley grew its position in Bio-Path by 19,858.0% in the 2nd quarter. Morgan Stanley now owns 19,958 shares of the company’s stock valued at $267,000 after buying an additional 19,858 shares in the last quarter. Hedge funds and other institutional investors own 9.43% of the company’s stock.

Bio-Path Company Profile

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nano particle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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