Calithera Biosciences (NASDAQ:CALA) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of Calithera Biosciences (NASDAQ:CALA) from a buy rating to a hold rating in a research note released on Tuesday morning, ValuEngine reports.

Several other analysts have also recently commented on the company. Citigroup set a $8.00 target price on Calithera Biosciences and gave the company a hold rating in a report on Friday, August 9th. Zacks Investment Research raised shares of Calithera Biosciences from a sell rating to a hold rating in a research report on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $6.50.

Shares of NASDAQ:CALA traded up $0.21 during mid-day trading on Tuesday, reaching $4.07. 808,249 shares of the company’s stock were exchanged, compared to its average volume of 305,412. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.39 and a current ratio of 7.39. Calithera Biosciences has a twelve month low of $2.45 and a twelve month high of $6.90. The firm has a market capitalization of $187.68 million, a price-to-earnings ratio of -2.73 and a beta of 1.81. The business’s fifty day moving average price is $2.98 and its 200-day moving average price is $4.14.

Calithera Biosciences (NASDAQ:CALA) last announced its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.07. Analysts predict that Calithera Biosciences will post -1.98 EPS for the current fiscal year.

In other Calithera Biosciences news, insider Value Fund L. P. Biotechnology acquired 2,396,485 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $3.33 per share, with a total value of $7,980,295.05. Also, major shareholder Bvf Partners L. P/Il purchased 1,598,977 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average cost of $2.60 per share, for a total transaction of $4,157,340.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 4,123,950 shares of company stock valued at $12,570,640. 17.20% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of CALA. BlackRock Inc. boosted its position in shares of Calithera Biosciences by 5.8% in the second quarter. BlackRock Inc. now owns 3,228,764 shares of the biotechnology company’s stock valued at $12,593,000 after acquiring an additional 175,625 shares during the period. Vanguard Group Inc. grew its holdings in shares of Calithera Biosciences by 32.3% during the second quarter. Vanguard Group Inc. now owns 2,113,189 shares of the biotechnology company’s stock worth $8,242,000 after purchasing an additional 515,969 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Calithera Biosciences during the second quarter worth about $7,550,000. CVI Holdings LLC bought a new position in shares of Calithera Biosciences in the 2nd quarter worth $3,289,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Calithera Biosciences by 53.0% in the 2nd quarter. Renaissance Technologies LLC now owns 750,198 shares of the biotechnology company’s stock worth $2,926,000 after buying an additional 260,000 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.

Calithera Biosciences Company Profile

Calithera Biosciences, Inc, a clinical-stage bio-pharmaceutical company, focuses on the discovery and development of small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer in the United States. Its lead product candidate is CB-839, an inhibitor of glutaminase, which is in Phase II clinical trial to treat solid tumors.

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