Caladrius Biosciences (NASDAQ:CLBS) Rating Increased to Buy at Zacks Investment Research

Caladrius Biosciences (NASDAQ:CLBSGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm currently has a $0.50 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.65% from the company’s current price.

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. “

Several other analysts also recently issued reports on CLBS. HC Wainwright lowered their price objective on shares of Caladrius Biosciences from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, March 23rd. StockNews.com started coverage on shares of Caladrius Biosciences in a research report on Sunday. They issued a “sell” rating for the company.

NASDAQ CLBS traded up $0.00 during mid-day trading on Tuesday, hitting $0.46. The company’s stock had a trading volume of 636 shares, compared to its average volume of 547,978. Caladrius Biosciences has a 52-week low of $0.40 and a 52-week high of $1.68. The stock’s fifty day simple moving average is $0.62 and its two-hundred day simple moving average is $0.76. The firm has a market capitalization of $27.85 million, a P/E ratio of -1.15 and a beta of 1.10.

Caladrius Biosciences (NASDAQ:CLBSGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. During the same quarter last year, the company posted ($0.19) earnings per share. As a group, research analysts anticipate that Caladrius Biosciences will post -0.4 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Caladrius Biosciences by 239.4% during the third quarter. Barclays PLC now owns 21,103 shares of the biotechnology company’s stock worth $26,000 after buying an additional 14,885 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Caladrius Biosciences during the third quarter worth approximately $33,000. Goldman Sachs Group Inc. bought a new position in Caladrius Biosciences during the second quarter worth $87,000. Millennium Management LLC lifted its stake in Caladrius Biosciences by 46.2% during the second quarter. Millennium Management LLC now owns 64,903 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 20,498 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Caladrius Biosciences by 533.0% during the first quarter. Morgan Stanley now owns 70,537 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 59,393 shares during the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Caladrius Biosciences Company Profile (Get Rating)

Caladrius Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing cellular therapies to reverse disease and/or promote the regeneration of damaged tissue. Its product candidates include HONEDRA, a recipient of SAKIGAKE designation that is in Phase II clinical trial for the treatment of critical limb ischemia; XOWNA that is in Phase IIb clinical trial for the treatment of coronary microvascular dysfunction; and CLBS201, a CD34+ cell therapy for the treatment of pre-dialysis patients with chronic kidney disease.

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