CalciMedica (NASDAQ:CALC) Stock Price Down 3.8% – Here’s What Happened

CalciMedica Inc. (NASDAQ:CALC) shares dropped 3.8% on Monday. The stock traded as low as $1.53 and last traded at $1.54. Approximately 26,629 shares were traded during trading, a decline of 58% from the average session volume of 63,411 shares. The stock had previously closed at $1.60.

Analysts Set New Price Targets

CALC has been the subject of several research reports. Guggenheim initiated coverage on shares of CalciMedica in a research note on Thursday, August 20th. They issued a “buy” rating for the company. Wall Street Zen cut CalciMedica from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 12th. Weiss Ratings upgraded CalciMedica from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. HC Wainwright reissued a “neutral” rating on shares of CalciMedica in a research note on Wednesday, July 29th. Finally, UBS Group restated a “neutral” rating on shares of CalciMedica in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.00.

CalciMedica Price Performance

The stock’s fifty day moving average price is $2.55 and its two-hundred day moving average price is $3.25. The firm has a market capitalization of $10.11 million, a price-to-earnings ratio of -0.22 and a beta of 0.76. The company has a current ratio of 5.58, a quick ratio of 5.58 and a debt-to-equity ratio of 1.67.

CalciMedica (NASDAQ:CALC) last issued its earnings results on Tuesday, August 11th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.97. Equities research analysts expect that CalciMedica Inc. will post -5.25 EPS for the current year.

Institutional Investors Weigh In On CalciMedica

A hedge fund recently raised its stake in CalciMedica stock. Renaissance Technologies LLC lifted its position in shares of CalciMedica Inc. (NASDAQ:CALC) by 45.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,075 shares of the company’s stock after purchasing an additional 39,775 shares during the period. Renaissance Technologies LLC owned about 0.81% of CalciMedica worth $69,000 at the end of the most recent reporting period.

CalciMedica Company Profile

CalciMedica is a clinical-stage biopharmaceutical company focused on developing therapies for serious inflammatory and immune-mediated diseases. The company’s research is centered on calcium release-activated calcium (CRAC) channels, which help regulate immune-cell activation and inflammatory responses.

CalciMedica’s lead investigational product is Auxora, also known as zelnecirnon or CM4620. The selective CRAC channel inhibitor has been evaluated in clinical studies for conditions including acute pancreatitis and associated acute kidney injury, as well as other diseases involving excessive inflammation.