CalciMedica (NASDAQ:CALC) Trading Down 3.6% – Here’s What Happened

CalciMedica, Inc. (NASDAQ:CALC)’s share price dropped 3.6% during mid-day trading on Tuesday . The stock traded as low as $2.15 and last traded at $2.15. Approximately 4,549 shares were traded during trading, a decline of 81% from the average daily volume of 23,535 shares. The stock had previously closed at $2.23.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of CalciMedica in a research report on Thursday, November 14th.

CalciMedica Trading Down 3.6 %

The stock has a market capitalization of $28.99 million, a P/E ratio of -1.99 and a beta of 1.19. The company has a 50-day moving average price of $2.82 and a two-hundred day moving average price of $3.52.

Institutional Investors Weigh In On CalciMedica

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of CalciMedica by 51.2% during the 3rd quarter. Geode Capital Management LLC now owns 66,553 shares of the company’s stock worth $295,000 after buying an additional 22,525 shares during the period. Atria Investments Inc boosted its stake in CalciMedica by 136.5% during the third quarter. Atria Investments Inc now owns 26,503 shares of the company’s stock worth $117,000 after acquiring an additional 15,296 shares in the last quarter. PVG Asset Management Corp acquired a new stake in CalciMedica in the third quarter worth $67,000. Millennium Management LLC increased its stake in CalciMedica by 30.5% in the fourth quarter. Millennium Management LLC now owns 72,057 shares of the company’s stock valued at $255,000 after purchasing an additional 16,824 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of CalciMedica by 37.1% during the fourth quarter. Cetera Investment Advisers now owns 16,873 shares of the company’s stock valued at $60,000 after purchasing an additional 4,566 shares during the period.

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.