CalciMedica (NASDAQ:CALC) Trading Down 5% – Here’s What Happened

CalciMedica Inc. (NASDAQ:CALC)’s stock price dropped 5% on Tuesday . The company traded as low as $0.88 and last traded at $0.91. Approximately 226,885 shares traded hands during trading, a decline of 29% from the average daily volume of 320,101 shares. The stock had previously closed at $0.9580.

Analyst Upgrades and Downgrades

Separately, Oppenheimer lowered their target price on CalciMedica from $20.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

CalciMedica Stock Down 5.0%

The business has a 50-day moving average price of $0.67 and a two-hundred day moving average price of $2.23. The company has a market capitalization of $14.38 million, a price-to-earnings ratio of -0.69 and a beta of 0.97.

Institutional Investors Weigh In On CalciMedica

A number of institutional investors and hedge funds have recently bought and sold shares of CALC. Cetera Investment Advisers raised its position in CalciMedica by 33.1% in the 2nd quarter. Cetera Investment Advisers now owns 36,385 shares of the company’s stock valued at $58,000 after buying an additional 9,045 shares during the last quarter. 180 Wealth Advisors LLC raised its position in CalciMedica by 297.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 126,500 shares of the company’s stock valued at $68,000 after buying an additional 94,650 shares during the last quarter. Renaissance Technologies LLC raised its position in CalciMedica by 45.0% in the 1st quarter. Renaissance Technologies LLC now owns 128,075 shares of the company’s stock valued at $69,000 after buying an additional 39,775 shares during the last quarter. Jane Street Group LLC purchased a new stake in CalciMedica in the 4th quarter valued at $127,000. Finally, Envestnet Asset Management Inc. raised its position in CalciMedica by 58.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 93,433 shares of the company’s stock valued at $149,000 after buying 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.