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

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

Analyst Upgrades and Downgrades

Separately, Oppenheimer lowered their price objective on CalciMedica from $20.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

CalciMedica Stock Performance

The company has a 50 day moving average price of $0.68 and a 200 day moving average price of $2.20. The firm has a market cap of $14.09 million, a price-to-earnings ratio of -0.68 and a beta of 0.97.

Institutional Investors Weigh In On CalciMedica

Several institutional investors and hedge funds have recently modified their holdings of CALC. Envestnet Asset Management Inc. increased its holdings in CalciMedica by 58.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 93,433 shares of the company’s stock worth $149,000 after purchasing an additional 34,386 shares during the period. 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 purchasing an additional 9,045 shares in the last quarter. PVG Asset Management Corp acquired a new stake in CalciMedica in the 4th quarter valued at about $302,000. Renaissance Technologies LLC raised its position in CalciMedica by 26.1% in the 4th quarter. Renaissance Technologies LLC now owns 88,300 shares of the company’s stock valued at $582,000 after purchasing an additional 18,300 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in CalciMedica in the 4th quarter valued at about $127,000.

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.