Calithera Biosciences (NASDAQ:CALA) Sees Strong Trading Volume After Insider Buying Activity

Calithera Biosciences Inc (NASDAQ:CALA) shares saw unusually-strong trading volume on Tuesday after an insider bought additional shares in the company. Approximately 1,176,700 shares were traded during trading, an increase of 288% from the previous session’s volume of 303,164 shares.The stock last traded at $3.86 and had previously closed at $3.38.

Specifically, major shareholder Bvf Partners L. P/Il purchased 1,598,977 shares of the stock in a transaction on Tuesday, October 29th. The shares were purchased at an average cost of $2.60 per share, for a total transaction of $4,157,340.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Value Fund L. P. Biotechnology purchased 2,396,485 shares of the stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $3.33 per share, for a total transaction of $7,980,295.05. Insiders acquired a total of 4,123,950 shares of company stock worth $12,570,640 over the last quarter. Company insiders own 17.20% of the company’s stock.

Several equities research analysts have issued reports on CALA shares. HC Wainwright started coverage on shares of Calithera Biosciences in a research note on Tuesday. They issued a “buy” rating and a $7.00 price target on the stock. ValuEngine lowered shares of Calithera Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Calithera Biosciences from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Citigroup set a $8.00 price target on shares of Calithera Biosciences and gave the company a “hold” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $6.50.

The business’s 50-day moving average price is $2.96 and its 200 day moving average price is $4.15. The company has a market cap of $187.68 million, a P/E ratio of -2.59 and a beta of 1.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.39 and a current ratio of 7.39.

Calithera Biosciences (NASDAQ:CALA) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.07. Equities research analysts forecast that Calithera Biosciences Inc will post -1.98 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Beddow Capital Management Inc. bought a new position in shares of Calithera Biosciences in the 2nd quarter valued at about $44,000. Wedbush Securities Inc. bought a new position in shares of Calithera Biosciences in the 3rd quarter valued at about $42,000. Tower Research Capital LLC TRC bought a new position in shares of Calithera Biosciences in the 2nd quarter valued at about $56,000. Panagora Asset Management Inc. bought a new position in shares of Calithera Biosciences in the 2nd quarter valued at about $60,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Calithera Biosciences in the 2nd quarter valued at about $63,000. 65.31% of the stock is owned by institutional investors.

Calithera Biosciences Company Profile (NASDAQ:CALA)

Calithera Biosciences, Inc, a clinical-stage bio-pharmaceutical company, focuses on the discovery and development of small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer in the United States. Its lead product candidate is CB-839, an inhibitor of glutaminase, which is in Phase II clinical trial to treat solid tumors.

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