CalciMedica (NASDAQ:CALC) Announces Earnings Results, Misses Estimates By $0.12 EPS

CalciMedica (NASDAQ:CALC) released its earnings results on Tuesday. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.12), Zacks reports.

CalciMedica Stock Up 1.4%

Shares of CALC traded up $0.01 during mid-day trading on Tuesday, hitting $0.67. 48,022 shares of the company’s stock traded hands, compared to its average volume of 1,074,619. CalciMedica has a 1 year low of $0.46 and a 1 year high of $7.20. The firm has a market capitalization of $10.55 million, a P/E ratio of -0.51 and a beta of 0.91. The business’s 50-day moving average price is $0.83 and its 200-day moving average price is $0.88.

Insider Buying and Selling at CalciMedica

In other CalciMedica news, Director Fred A. Middleton purchased 248,972 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average cost of $0.80 per share, for a total transaction of $199,177.60. Following the purchase, the director directly owned 1,063,272 shares in the company, valued at $850,617.60. The trade was a 30.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CalciMedica

Large investors have recently made changes to their positions in the business. Boothbay Fund Management LLC purchased a new position in CalciMedica during the fourth quarter valued at $506,000. Jane Street Group LLC purchased a new position in shares of CalciMedica in the 4th quarter worth about $127,000. Renaissance Technologies LLC boosted its stake in CalciMedica by 26.1% in 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 in the last quarter. Cetera Investment Advisers boosted its stake in CalciMedica by 33.1% in the 2nd quarter. Cetera Investment Advisers now owns 36,385 shares of the company’s stock worth $58,000 after purchasing an additional 9,045 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in CalciMedica by 58.2% during 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.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. HC Wainwright reissued a “neutral” rating on shares of CalciMedica in a research note on Wednesday, July 29th. Weiss Ratings upgraded CalciMedica from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

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.