Calithera Biosciences, Inc. (CALA) Cut to “Hold” at BidaskClub

BidaskClub downgraded shares of Calithera Biosciences, Inc. (NASDAQ:CALA) from a buy rating to a hold rating in a research note published on Wednesday.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a buy rating and set a $14.00 target price (up from $10.00) on shares of Calithera Biosciences in a research note on Tuesday, March 28th. Zacks Investment Research raised shares of Calithera Biosciences from a hold rating to a buy rating and set a $13.00 target price for the company in a research note on Thursday, March 30th. Leerink Swann reaffirmed an outperform rating and set a $16.00 target price on shares of Calithera Biosciences in a research note on Monday, April 3rd. JMP Securities reaffirmed an outperform rating and set a $12.00 target price on shares of Calithera Biosciences in a research note on Tuesday, March 28th. Finally, Wells Fargo & Company reaffirmed an outperform rating and set a $20.00 target price (up from $15.00) on shares of Calithera Biosciences in a research note on Tuesday, June 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $15.50.

Shares of Calithera Biosciences (NASDAQ:CALA) opened at 15.55 on Wednesday. Calithera Biosciences has a 12-month low of $2.20 and a 12-month high of $20.05. The stock’s 50 day moving average is $15.93 and its 200-day moving average is $11.65. The company’s market capitalization is $548.82 million.

Calithera Biosciences (NASDAQ:CALA) last posted its earnings results on Tuesday, May 9th. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.14. The company had revenue of $4.19 million for the quarter, compared to analysts’ expectations of $1.40 million. Analysts anticipate that Calithera Biosciences will post ($0.89) earnings per share for the current year.

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In other Calithera Biosciences news, VP Keith Orford sold 2,120 shares of Calithera Biosciences stock in a transaction on Monday, July 17th. The shares were sold at an average price of $18.31, for a total value of $38,817.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 3,470 shares of company stock valued at $61,817 over the last three months. Corporate insiders own 16.30% of the company’s stock.

Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Calithera Biosciences by 6.8% in the fourth quarter. FMR LLC now owns 386,598 shares of the biotechnology company’s stock worth $1,256,000 after buying an additional 24,600 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Calithera Biosciences by 71.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 325,199 shares of the biotechnology company’s stock worth $3,756,000 after buying an additional 135,000 shares during the last quarter. Nationwide Fund Advisors acquired a new position in shares of Calithera Biosciences during the first quarter worth approximately $131,000. Acadian Asset Management LLC acquired a new position in shares of Calithera Biosciences during the first quarter worth approximately $381,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Calithera Biosciences by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 32,688 shares of the biotechnology company’s stock worth $377,000 after buying an additional 4,863 shares during the last quarter. 54.21% of the stock is owned by institutional investors and hedge funds.

About Calithera Biosciences

Calithera Biosciences, Inc is a clinical-stage pharmaceutical company. The Company focuses on discovering and developing small molecule drugs directed against tumor and immune cell targets that control key metabolic pathways in the tumor microenvironment. It is engaged in developing agents that take advantage of the metabolic requirements of tumor cells and cancer-fighting immune cells, such as cytotoxic T-cells.