Calithera Biosciences, Inc. (NASDAQ:CALA) Announces Earnings Results, Beats Estimates By $0.14 EPS
Calithera Biosciences, Inc. (NASDAQ:CALA) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.14, Morningstar.com reports. The firm had revenue of $7.26 million during the quarter, compared to analyst estimates of $4.80 million.
Shares of Calithera Biosciences (NASDAQ CALA) traded down 12.158% during trading on Wednesday, reaching $12.825. 1,022,417 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $16.02 and a 200-day moving average price of $12.41. Calithera Biosciences has a 52-week low of $2.20 and a 52-week high of $20.05. The company’s market capitalization is $452.65 million.
CALA has been the subject of a number of research reports. Zacks Investment Research upgraded Calithera Biosciences from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Tuesday, July 11th. Wells Fargo & Company reissued an “outperform” rating and issued a $20.00 target price (up previously from $15.00) on shares of Calithera Biosciences in a report on Tuesday, June 6th. BidaskClub raised shares of Calithera Biosciences from a “hold” rating to a “buy” rating in a report on Friday, July 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $19.00 target price (up previously from $14.00) on shares of Calithera Biosciences in a report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.50.
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In related news, VP Keith Orford sold 2,120 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $18.31, for a total value of $38,817.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 3,470 shares of company stock worth $61,817. 16.30% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of CALA. FMR LLC boosted its stake in shares of Calithera Biosciences by 278.2% in the first quarter. FMR LLC now owns 1,462,190 shares of the biotechnology company’s stock valued at $16,888,000 after buying an additional 1,075,592 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Calithera Biosciences during the first quarter valued at $47,550,000. United Services Automobile Association purchased a new stake in shares of Calithera Biosciences during the first quarter valued at $342,000. ClariVest Asset Management LLC purchased a new stake in shares of Calithera Biosciences during the first quarter valued at $194,000. Finally, EAM Investors LLC purchased a new stake in shares of Calithera Biosciences during the first quarter valued at $1,220,000. 54.51% of the stock is currently owned by hedge funds and other institutional investors.
Calithera Biosciences Company Profile
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.
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