CalciMedica Inc. (NASDAQ:CALC) Sees Large Drop in Short Interest

CalciMedica Inc. (NASDAQ:CALC) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 503,070 shares, a decline of 47.6% from the July 15th total of 960,731 shares. Based on an average trading volume of 277,430 shares, the days-to-cover ratio is currently 1.8 days. Currently, 4.4% of the company’s stock are short sold.

CalciMedica Stock Up 2.7%

NASDAQ CALC traded up $0.02 on Friday, reaching $0.68. The stock had a trading volume of 120,715 shares, compared to its average volume of 304,292. CalciMedica has a 1 year low of $0.46 and a 1 year high of $7.20. The business has a 50 day moving average price of $0.81 and a 200 day moving average price of $0.78. The company has a current ratio of 5.58, a quick ratio of 1.61 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $10.67 million, a price-to-earnings ratio of -0.50 and a beta of 0.91.

CalciMedica (NASDAQ:CALC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.17). On average, analysts forecast that CalciMedica will post -1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Weiss Ratings downgraded shares of CalciMedica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. HC Wainwright reiterated a “neutral” rating on shares of CalciMedica in a research report on Wednesday, July 29th. Finally, UBS Group reissued a “neutral” rating on shares of CalciMedica in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.00.

Insiders Place Their Bets

In other CalciMedica news, Director Fred A. Middleton bought 248,972 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were bought at an average price of $0.80 per share, for a total transaction of $199,177.60. Following the acquisition, the director directly owned 1,063,272 shares of the company’s stock, valued at approximately $850,617.60. This trade represents a 30.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 28.25% of the stock is currently owned by company insiders.

Institutional Trading of CalciMedica

A number of institutional investors have recently added to or reduced their stakes in CALC. Boothbay Fund Management LLC bought a new stake in CalciMedica in the fourth quarter worth approximately $506,000. Renaissance Technologies LLC increased its stake in shares of CalciMedica by 26.1% during the 4th quarter. Renaissance Technologies LLC now owns 88,300 shares of the company’s stock worth $582,000 after purchasing an additional 18,300 shares during the last quarter. Jane Street Group LLC bought a new position in shares of CalciMedica during the 4th quarter valued at $127,000. Cetera Investment Advisers lifted its stake in shares of 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 during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of 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 purchasing an additional 34,386 shares during the last quarter.

CalciMedica Company Profile

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.