CalciMedica (NASDAQ:CALC) Lifted to Moderate Buy at Singular Research

Singular Research upgraded shares of CalciMedica (NASDAQ:CALC) to a moderate buy rating in a research note released on Friday morning, Zacks.com reports.

CALC has been the subject of several other reports. Oppenheimer restated an outperform rating and issued a $14.00 target price on shares of CalciMedica in a research report on Monday, April 1st. HC Wainwright reissued a buy rating and set a $20.00 price target on shares of CalciMedica in a report on Thursday, June 27th.

CalciMedica Stock Up 7.3 %

CalciMedica stock opened at $4.25 on Friday. CalciMedica has a twelve month low of $1.75 and a twelve month high of $8.38. The company’s 50-day moving average price is $5.26 and its two-hundred day moving average price is $4.63. The stock has a market cap of $45.69 million, a P/E ratio of -1.98 and a beta of 1.28.

CalciMedica (NASDAQ:CALC) last released its earnings results on Monday, May 13th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. Equities analysts anticipate that CalciMedica will post -2.05 earnings per share for the current fiscal year.

Insider Transactions at CalciMedica

In other news, Director Robert N. Wilson purchased 8,443 shares of CalciMedica stock in a transaction dated Thursday, June 27th. The shares were bought at an average cost of $3.23 per share, for a total transaction of $27,270.89. Following the completion of the acquisition, the director now owns 258,918 shares in the company, valued at approximately $836,305.14. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On CalciMedica

A number of hedge funds and other institutional investors have recently made changes to their positions in CALC. Meritage Portfolio Management lifted its stake in shares of CalciMedica by 360.0% in the fourth quarter. Meritage Portfolio Management now owns 46,000 shares of the company’s stock worth $132,000 after acquiring an additional 36,000 shares during the period. BML Capital Management LLC lifted its stake in shares of CalciMedica by 63.8% in the fourth quarter. BML Capital Management LLC now owns 145,424 shares of the company’s stock worth $416,000 after acquiring an additional 56,643 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new position in shares of CalciMedica in the third quarter worth approximately $432,000.

About CalciMedica

CalciMedica, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapeutics for illnesses caused by inflammatory and immunologic processes and direct cellular damage. The company's lead product candidate comprises Auxora, an intravenous formulated small molecule calcium release-activated (CRAC) channel inhibitors, which is in phase 2 clinical trials for the treatment of acute pancreatitis, asparaginase induced pancreatic toxicity, and acute kidney injury, as well as severe COVID-19 pneumonia.