Zacks Investment Research upgraded shares of Caladrius Biosciences (NASDAQ:CLBS) from a hold rating to a buy rating in a report released on Friday, May 25th. They currently have $4.50 price objective on the biotechnology company’s stock.
According to Zacks, “Caladrius Biosciences, Inc. is an immunotherapy company which specializes in cell process optimization, development and manufacturing. Its product candidate consists of NBS20, a targeted cancer immunotherapy product for the treatment of metastatic melanoma; NBS10, an ischemic repair product to preserve heart muscle function following an acute myocardial infarction and NBS03D, an immune modulation product for the treatment of diabetes which are in different clinical trials. Caladrius Biosciences, Inc., formerly known as NeoStem, Inc., is headquartered in New York. “
A number of other brokerages have also commented on CLBS. HC Wainwright reissued a buy rating on shares of Caladrius Biosciences in a report on Tuesday, March 6th. They noted that the move was a valuation call. ValuEngine raised Caladrius Biosciences from a sell rating to a hold rating in a research note on Wednesday, May 2nd. Finally, Chardan Capital increased their price target on Caladrius Biosciences from $6.50 to $7.00 and gave the company a buy rating in a research report on Friday, March 23rd.
Shares of NASDAQ CLBS traded down $0.12 on Friday, reaching $3.95. 32,700 shares of the company traded hands, compared to its average volume of 56,634. The company has a market cap of $38.95 million, a P/E ratio of -2.22 and a beta of 1.20. Caladrius Biosciences has a fifty-two week low of $2.63 and a fifty-two week high of $6.35.
Caladrius Biosciences (NASDAQ:CLBS) last released its earnings results on Thursday, May 10th. The biotechnology company reported ($0.52) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.28. analysts expect that Caladrius Biosciences will post -2.3 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP acquired a new stake in Caladrius Biosciences in the 1st quarter valued at approximately $197,000. JPMorgan Chase & Co. acquired a new stake in shares of Caladrius Biosciences during the 1st quarter worth approximately $110,000. Finally, Macquarie Group Ltd. grew its holdings in shares of Caladrius Biosciences by 321.0% during the 4th quarter. Macquarie Group Ltd. now owns 29,890 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 22,790 shares in the last quarter. 7.80% of the stock is currently owned by institutional investors and hedge funds.
About Caladrius Biosciences
Caladrius Biosciences, Inc is a cell therapy development company with product candidates in development based on multiple technology platforms and targeting autoimmune and cardiology indications. The Company’s lead product candidate, CLBS03, is a T regulatory cell (Treg) clinical Phase II therapy targeting adolescents with recent-onset type 1 diabetes mellitus (T1DM) using the patient’s own numerically and functionally enhanced Tregs.
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