Short Interest in CalciMedica Inc. (NASDAQ:CALC) Declines By 35.7%

Key Points

• Short interest fell 35.7% to 323,241 shares as of August 14, representing about 1.3% of CalciMedica’s outstanding shares and a days-to-cover ratio of 1.0.
• CalciMedica shares traded at $2.00, near their 52-week low of $2.00 versus a high of $36.00. The company also reported a quarterly loss of $2.25 per share, missing analysts’ $1.42 loss estimate.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $50 price target; insiders own 28.25% of the stock, while several institutional investors recently increased their positions.

CalciMedica Inc. (NASDAQ:CALC - Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 323,241 shares, a decline of 35.7% from the July 30th total of 503,070 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 320,704 shares, the days-to-cover ratio is currently 1.0 days.

CalciMedica Price Performance

Shares of NASDAQ:CALC traded down $0.14 during midday trading on Tuesday, reaching $2.00. The company's stock had a trading volume of 139,671 shares, compared to its average volume of 204,280. CalciMedica has a fifty-two week low of $2.00 and a fifty-two week high of $36.00. The company has a market capitalization of $68.28 million, a P/E ratio of -1.47 and a beta of 0.91. The company has a debt-to-equity ratio of 1.67, a current ratio of 5.58 and a quick ratio of 5.58. The business's fifty day simple moving average is $3.71 and its 200-day simple moving average is $3.50.

CalciMedica (NASDAQ:CALC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($2.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.42) by ($0.83). As a group, equities research analysts expect that CalciMedica will post -1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CALC shares. Weiss Ratings raised shares of CalciMedica from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday. HC Wainwright restated a "neutral" rating on shares of CalciMedica in a research note on Wednesday, July 29th. Wall Street Zen raised shares of CalciMedica to a "sell" rating in a report on Saturday, August 22nd. UBS Group reissued a "neutral" rating on shares of CalciMedica in a report on Thursday, August 13th. Finally, Guggenheim assumed coverage on shares of CalciMedica in a research note on Thursday, August 20th. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $50.00.

Insider Activity

In other CalciMedica news, Director Fred A. Middleton acquired 49,794 shares of CalciMedica stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of $4.00 per share, with a total value of $199,176.00. Following the acquisition, the director owned 212,654 shares of the company's stock, valued at approximately $850,616. The trade was a 30.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 28.25% of the company's stock.

Institutional Trading of CalciMedica

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in CalciMedica by 45.0% in the 1st 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 last quarter. Envestnet Asset Management Inc. increased 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 buying an additional 34,386 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of CalciMedica during the fourth quarter worth $506,000. Jane Street Group LLC bought a new stake in shares of CalciMedica during the fourth quarter worth $127,000. Finally, Cetera Investment Advisers lifted its stake in shares of CalciMedica by 33.1% during the second quarter. Cetera Investment Advisers now owns 36,385 shares of the company's stock valued at $58,000 after acquiring an additional 9,045 shares during the period.

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.

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