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

CalciMedica Inc. (NASDAQ:CALC) was the target of 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 daily volume of 277,430 shares, the days-to-cover ratio is currently 1.8 days. Currently, 4.4% of the shares of the stock are short sold.

Insider Activity at CalciMedica

In other CalciMedica news, Director Fred A. Middleton bought 248,972 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average cost of $0.80 per share, with a total value of $199,177.60. Following the completion of the purchase, the director directly owned 1,063,272 shares in the company, valued at approximately $850,617.60. This trade represents a 30.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 28.25% of the stock is owned by insiders.

Hedge Funds Weigh In On CalciMedica

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its holdings in shares of CalciMedica by 33.1% in the second 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. 180 Wealth Advisors LLC grew its holdings in shares of CalciMedica by 297.2% during the first 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 in the last quarter. Renaissance Technologies LLC raised its position in CalciMedica by 45.0% during the first 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 period. Jane Street Group LLC acquired a new position in CalciMedica during the fourth quarter valued at $127,000. Finally, Envestnet Asset Management Inc. lifted its stake in CalciMedica by 58.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 93,433 shares of the company’s stock worth $149,000 after acquiring an additional 34,386 shares in the last quarter.

CalciMedica Trading Up 2.7%

CALC stock traded up $0.02 during mid-day trading on Friday, reaching $0.68. 120,715 shares of the stock traded hands, compared to its average volume of 304,292. CalciMedica has a 52-week low of $0.46 and a 52-week high of $7.20. The stock’s fifty day moving average is $0.81 and its 200-day moving average is $0.78. The company has a market cap of $10.67 million, a P/E ratio of -0.50 and a beta of 0.91. The company has a current ratio of 5.58, a quick ratio of 1.61 and a debt-to-equity ratio of 1.67.

CalciMedica (NASDAQ:CALC) last released its earnings results on Tuesday, August 11th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.17). As a group, sell-side analysts expect that CalciMedica will post -1.05 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Weiss Ratings cut CalciMedica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. UBS Group reissued a “neutral” rating on shares of CalciMedica in a research note on Thursday. Finally, HC Wainwright restated a “neutral” rating on shares of CalciMedica in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CalciMedica currently has a consensus rating of “Hold” and a consensus target price of $10.00.

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.