Caladrius Biosciences (NASDAQ:CLBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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 subject of a number of other reports. WBB Securities started coverage on Caladrius Biosciences in a research note on Tuesday, May 14th. They issued a “speculative buy” rating and a $6.75 price target for the company. ValuEngine upgraded Caladrius Biosciences from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Chardan Capital restated a “buy” rating and issued a $6.00 price target on shares of Caladrius Biosciences in a research note on Sunday, May 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Caladrius Biosciences currently has a consensus rating of “Buy” and an average price target of $8.63.

CLBS stock traded down $0.08 during mid-day trading on Wednesday, reaching $2.53. The company had a trading volume of 26,956 shares, compared to its average volume of 35,298. The stock’s 50 day moving average is $2.69. Caladrius Biosciences has a 52 week low of $2.16 and a 52 week high of $6.83.

Caladrius Biosciences (NASDAQ:CLBS) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.05). On average, equities analysts forecast that Caladrius Biosciences will post -1.51 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wesbanco Bank Inc. bought a new position in shares of Caladrius Biosciences during the 1st quarter worth approximately $36,000. Vanguard Group Inc. boosted its stake in shares of Caladrius Biosciences by 7.6% during the 2nd quarter. Vanguard Group Inc. now owns 207,973 shares of the biotechnology company’s stock worth $474,000 after acquiring an additional 14,740 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Caladrius Biosciences by 20.6% during the 2nd quarter. Renaissance Technologies LLC now owns 380,336 shares of the biotechnology company’s stock worth $867,000 after acquiring an additional 64,988 shares during the period. Institutional investors own 7.45% of the company’s stock.

About Caladrius Biosciences

Caladrius Biosciences, Inc is a biopharmaceutical company, which engages in developing products in cardiovascular and autoimmune disease that have the potential to restore the health of people with chronic illnesses. Its product pipeline includes CLBS12, CLBS14, and CLBS03. The company was founded on September 18, 1980 and is headquartered in Basking Ridge, NJ.

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