BidaskClub Downgrades Calithera Biosciences, Inc. (NASDAQ:CALA) to Strong Sell
Calithera Biosciences, Inc. (NASDAQ:CALA) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.
Other analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and set a $19.00 price target (up from $14.00) on shares of Calithera Biosciences in a research report on Monday, June 12th. Wells Fargo & Company reiterated an “outperform” rating and set a $20.00 target price (up from $15.00) on shares of Calithera Biosciences in a report on Tuesday, June 6th. Finally, Zacks Investment Research lowered shares of Calithera Biosciences from a “buy” rating to a “hold” rating in a report on Friday, May 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Calithera Biosciences currently has a consensus rating of “Hold” and an average target price of $15.50.
Calithera Biosciences (CALA) traded up 15.35% on Friday, hitting $13.90. The stock had a trading volume of 1,034,907 shares. Calithera Biosciences has a 52-week low of $2.20 and a 52-week high of $20.05. The company’s market cap is $493.12 million. The stock’s 50-day moving average is $15.88 and its 200-day moving average is $12.74.
Calithera Biosciences (NASDAQ:CALA) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.14. The business had revenue of $7.26 million for the quarter, compared to analysts’ expectations of $4.80 million. Analysts expect that Calithera Biosciences will post ($0.83) earnings per share for the current year.
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In other news, VP Keith Orford sold 2,120 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $18.31, for a total transaction of $38,817.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 3,470 shares of company stock valued at $61,817. 16.30% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Calithera Biosciences by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 32,688 shares of the biotechnology company’s stock worth $377,000 after buying an additional 4,863 shares during the last quarter. Legal & General Group Plc bought a new position in Calithera Biosciences during the second quarter worth about $120,000. Teachers Retirement System of The State of Kentucky increased its position in Calithera Biosciences by 49.2% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 27,600 shares of the biotechnology company’s stock worth $410,000 after buying an additional 9,100 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Calithera Biosciences during the first quarter worth about $117,000. Finally, Nationwide Fund Advisors bought a new position in Calithera Biosciences during the first quarter worth about $131,000. Institutional investors own 54.51% of the company’s stock.
About Calithera Biosciences
Calithera Biosciences, Inc is a clinical-stage pharmaceutical company. The Company focuses on discovering and developing small molecule drugs directed against tumor and immune cell targets that control key metabolic pathways in the tumor microenvironment. It is engaged in developing agents that take advantage of the metabolic requirements of tumor cells and cancer-fighting immune cells, such as cytotoxic T-cells.
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