In a recent transaction, Robert N. Wilson, a director at CalciMedica, Inc. (NASDAQ:CALC), purchased shares of the company's common stock, signaling a vote of confidence in the pharmaceutical preparations firm. The transaction, which took place on June 27, involved the acquisition of 8,443 shares at a weighted average purchase price of $3.234 per share.
The purchase price ranged between $3.17 and $3.24, with the total value of the shares bought amounting to approximately $27,304. This move has increased Wilson's direct ownership in CalciMedica to 258,918 shares following the transaction.
CalciMedica, Inc., headquartered in La Jolla, California, operates within the healthcare sector, focusing on the development of pharmaceutical preparations. The company's activities are closely watched by investors, with transactions by company insiders such as directors often considered indicators of the firm's potential future performance.
Investors and followers of CalciMedica will continue to monitor insider transactions as part of their assessment of the company's stock and overall health. As is standard practice, full details regarding the number of shares purchased at each separate price within the reported range will be made available upon request.
In other recent news, CalciMedica, a biopharmaceutical company, announced positive results from its Phase 2b CARPO trial for its drug Auxora, developed for acute pancreatitis patients with systemic inflammatory response syndrome. The trial demonstrated a significant reduction in time to solid food tolerance and severe organ failure, compared to a placebo. In response to the results, Singular Research raised its price target for CalciMedica from $10.75 to $11.25, maintaining its Buy-Venture rating. Jones Trading, however, adjusted its price target down from $22.00 to $15.00, but still maintained a Buy rating. On the other hand, Oppenheimer held an Outperform rating and a $14.00 price target. The company's current cash levels are estimated to support its programs into mid-2025 before additional funding would be necessary. CalciMedica is also progressing with its clinical studies of Auxora for treating acute kidney injury, with the Phase 2 KOURAGE trial set to start enrollment soon.
InvestingPro Insights
In light of Robert N. Wilson's recent share purchase in CalciMedica, Inc. (NASDAQ:CALC), it's important for investors to consider some key financial metrics and expert analysis that may influence their view of the company's prospects. According to InvestingPro data, CalciMedica has a market capitalization of approximately $44.5 million, which provides a sense of the company's size in the pharmaceutical preparations market.
Despite the confidence shown by Wilson's investment, CalciMedica's recent performance metrics highlight challenges. The company's P/E ratio stands at -1.86, reflecting its current lack of profitability. Furthermore, the stock has experienced a significant decline over the last week, with a price total return of -24.57%. Over the past month, the decline extends to -30.28%, though it's worth noting there has been a large price uptick over the last six months, with a return of 38.46%.
From an InvestingPro Tips perspective, CalciMedica does not pay a dividend to shareholders, which may be a consideration for those seeking income-generating investments. Additionally, the company is quickly burning through cash, which could raise concerns about its financial sustainability.
For readers looking to delve deeper into the financials and forecasts for CalciMedica, InvestingPro offers additional insights. There are 4 more InvestingPro Tips available, which could provide a more comprehensive understanding of the company's financial health and stock performance. To access these tips and benefit from the full range of expert analysis, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at https://www.investing.com/pro/CALC.
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