CalciMedica (NASDAQ:CALC) Shares Up 4.5% – Here’s Why

CalciMedica Inc. (NASDAQ:CALC) shot up 4.5% during mid-day trading on Thursday . The company traded as high as $0.6999 and last traded at $0.6510. 479,089 shares were traded during trading, an increase of 70% from the average session volume of 282,224 shares. The stock had previously closed at $0.6230.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CALC. HC Wainwright restated a “neutral” rating on shares of CalciMedica in a report on Thursday, January 29th. Wall Street Zen upgraded shares of CalciMedica to a “sell” rating in a report on Saturday, January 17th. Oppenheimer decreased their price objective on shares of CalciMedica from $20.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CalciMedica in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CalciMedica currently has an average rating of “Hold” and an average price target of $13.00.

CalciMedica Stock Up 4.5%

The business’s 50-day moving average price is $0.64 and its 200 day moving average price is $2.94. The company has a market capitalization of $10.25 million, a P/E ratio of -0.33 and a beta of 0.76.

CalciMedica (NASDAQ:CALC) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.69) EPS for the quarter. Analysts anticipate that CalciMedica Inc. will post -2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On CalciMedica

Large investors have recently modified their holdings of the company. Boothbay Fund Management LLC bought a new stake in CalciMedica during the fourth quarter valued at approximately $506,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in CalciMedica during the third quarter valued at approximately $165,000. Sheets Smith Investment Management bought a new stake in CalciMedica during the third quarter valued at approximately $157,000. PVG Asset Management Corp bought a new stake in CalciMedica during the fourth quarter valued at approximately $302,000. Finally, Envestnet Asset Management Inc. lifted its position in CalciMedica by 58.2% during the second quarter. Envestnet Asset Management Inc. now owns 93,433 shares of the company’s stock valued at $149,000 after purchasing an additional 34,386 shares during the last quarter.

About CalciMedica

CalciMedica, Inc (NASDAQ:CALC) is a clinical-stage biopharmaceutical company focused on developing therapies that modulate calcium-mediated inflammatory pathways. Headquartered in Northbrook, Illinois, the company applies proprietary ion channel technology to address severe inflammatory disorders driven by dysregulated immune responses.

The company’s lead product candidate, Auxora™, is a selective inhibitor of calcium release-activated calcium (CRAC) channels. Auxora is being evaluated in clinical trials for the treatment of acute pancreatitis associated with systemic inflammatory response syndrome (SIRS) and acute respiratory distress syndrome (ARDS) in patients with severe pulmonary conditions, including COVID-19 pneumonia.