CalciMedica, Inc. (NASDAQ:CALC) has reported a significant purchase of shares by director Robert N. Wilson, according to a recent SEC filing. The transaction, which took place on June 28, 2024, involved the acquisition of 51,278 shares of common stock at a weighted average purchase price of $3.52 per share. The total investment by Wilson amounted to over $180,000.
Investors might be interested to note the price range for Wilson's purchase, which was between $3.2997 and $3.7935 per share. This detail provides insight into the trading activity and valuation of the stock at the time of the transaction.
Following this transaction, Wilson now owns a total of 310,196 shares in CalciMedica. The company, which is classified under the Pharmaceutical Preparations industry, has its business address in La Jolla, California.
The filing did not report any sale transactions by Wilson or other significant trades involving CalciMedica's stock by company insiders at this time. Insider purchases like these can often be seen as a sign of confidence in the company's future prospects by its own leadership.
For those interested in the company's stock movements, CalciMedica trades under the ticker symbol CALC on the NASDAQ exchange. Investors and stakeholders can expect to receive full information regarding the number of shares purchased at each separate price upon request, as noted in the SEC filing footnote.
In other recent news, CalciMedica, a biopharmaceutical company, has reported positive outcomes from its Phase 2b CARPO trial of Auxora in patients with acute pancreatitis and systemic inflammatory response syndrome. The trial demonstrated significant reductions in time to solid food tolerance and severe organ failure compared to a placebo. Singular Research has raised its price target for CalciMedica from $10.75 to $11.25, maintaining its Buy-Venture rating, while Oppenheimer has kept an Outperform rating with a $14.00 price target. However, Jones Trading has adjusted its price target for CalciMedica, reducing it to $15.00 from the previous $22.00, while still maintaining a Buy rating. The company's current cash levels are deemed sufficient to support its programs until mid-2025, and CalciMedica is also making progress in its clinical studies of Auxora for treating acute kidney injury, with the Phase 2 KOURAGE trial set to begin enrollment soon.
InvestingPro Insights
Following the significant insider purchase by director Robert N. Wilson, CalciMedica, Inc. (NASDAQ:CALC) has presented some intriguing financial metrics. With a market capitalization of $44.07 million and a notably negative price-to-earnings (P/E) ratio of -1.86, the company's valuation reflects its current earnings challenges. The adjusted P/E ratio for the last twelve months as of Q1 2024 stands at an even lower -2.58, underlining the earnings difficulty further.
Despite these challenges, CalciMedica's stock has experienced a large price uptick over the last six months, with a total return of 38.66%. This could suggest a shift in investor sentiment or anticipation of future growth. Nevertheless, it is important to note that the company is not profitable over the last twelve months, and it does not pay a dividend to shareholders, which might be a consideration for income-focused investors.
One of the InvestingPro Tips indicates that CalciMedica holds more cash than debt on its balance sheet, potentially providing a buffer against financial strain and offering flexibility for future operations. Another tip to consider is that the stock has taken a big hit over the last week, with a price total return of -17.95%. This short-term volatility could be a point of analysis for potential investors.
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