Caladrius Biosciences, Inc. (CLBS) Lifted to Buy at Zacks Investment Research
Caladrius Biosciences, Inc. (NASDAQ:CLBS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $4.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.98% from the company’s previous close.
According to Zacks, “Caladrius Biosciences, Inc. is an immunotherapy company which specializes in cell process optimization, development and manufacturing. Its product candidate consists of NBS20, a targeted cancer immunotherapy product for the treatment of metastatic melanoma; NBS10, an ischemic repair product to preserve heart muscle function following an acute myocardial infarction and NBS03D, an immune modulation product for the treatment of diabetes which are in different clinical trials. Caladrius Biosciences, Inc., formerly known as NeoStem, Inc., is headquartered in New York. “
CLBS has been the topic of a number of other research reports. HC Wainwright set a $7.00 target price on Caladrius Biosciences and gave the company a “buy” rating in a research report on Friday, May 19th. ValuEngine raised Caladrius Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th.
Shares of Caladrius Biosciences (NASDAQ:CLBS) traded down 1.38% on Tuesday, reaching $4.28. The company’s stock had a trading volume of 6,413 shares. The company’s 50 day moving average is $4.19 and its 200-day moving average is $4.67. Caladrius Biosciences has a 1-year low of $2.65 and a 1-year high of $7.79.
Caladrius Biosciences (NASDAQ:CLBS) last released its earnings results on Thursday, August 10th. The biotechnology company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.08. Caladrius Biosciences had a negative return on equity of 742.11% and a negative net margin of 84.10%. Equities analysts forecast that Caladrius Biosciences will post ($2.36) earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in CLBS. Vanguard Group Inc. increased its position in shares of Caladrius Biosciences by 2.8% in the second quarter. Vanguard Group Inc. now owns 155,380 shares of the biotechnology company’s stock worth $723,000 after buying an additional 4,163 shares during the period. KCG Holdings Inc. increased its position in shares of Caladrius Biosciences by 74.6% in the first quarter. KCG Holdings Inc. now owns 36,291 shares of the biotechnology company’s stock worth $183,000 after buying an additional 15,501 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Caladrius Biosciences by 34.3% in the first quarter. Renaissance Technologies LLC now owns 97,552 shares of the biotechnology company’s stock worth $491,000 after buying an additional 24,900 shares during the period. 6.64% of the stock is currently owned by hedge funds and other institutional investors.
Caladrius Biosciences Company Profile
Caladrius Biosciences, Inc is a cell therapy development company with product candidates in development based on multiple technology platforms and targeting autoimmune and cardiology indications. The Company’s lead product candidate, CLBS03, is a T regulatory cell (Treg) clinical Phase II therapy targeting adolescents with recent-onset type 1 diabetes mellitus (T1DM) using the patient’s own numerically and functionally enhanced Tregs.
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