Home Analyst Ratings SVB Leerink lowers Calithera Biosciences rating to Market Perform and sets...

SVB Leerink lowers Calithera Biosciences [CALA] rating to Market Perform and sets price target at $2

SVB Leerink took its Calithera Biosciences [CALA] rating to the equivalent of Market Perform from ‎Outperform, and the price target to $2, in a research note dated 2021-01-05. Some new analysts also ‎started their coverage, with H.C. Wainwright’s analysts assigning the shares to “a Buy” rating in a ‎research note to investors issued in mid November. In addition, there was an upgrade from Citigroup ‎on February 16, 2018. The rater changed CALA from “a Neutral” to “a Buy”.

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Is Calithera Biosciences Inc. [NASDAQ:CALA] a ‎Good Buy Right Now?

It should be noted that CALA technical indicators for short, intermediate as ‎well as long term progress have placed an overall average of 16% as Sell. The average signal changed ‎from 56% Buy in the last week and compares with 8% Sell in the past month. Data from Calithera ‎Biosciences Inc.’s Trend Spotter indicated that the signals were Bullish. The stock current average is ‎‎1.75 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last ‎‎50 days, the average trading volume was 1.02 million shares while the medium term average ‎advocated for Hold. The average long-term signal stands at 100% Sell and the 100-day average volume ‎stands at 0.77 million shares.


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CALA Price Performance

On Wall Street, Calithera Biosciences ‎Inc. [NASDAQ:CALA] finished Monday’s session down -44.60% at $2.72. The stock went up to $3.18 at ‎the same session while its lowest single day price was $2.46. In the last five days, it saw a fall of about -‎‎46.67%, Calithera Biosciences Inc. shares dropped by almost -44.60% since the beginning of the year. ‎However, the share price has dropped to as low as -66.75% below its one year high. On 01/04/21, the ‎company shares recorded $3.18, the highest single-day price it has got to in the last 52-weeks and a 52-‎week low was seen on 01/04/21, the same year at $2.46. The company’s shares have declined by -‎‎46.77% in the past year. The 50-day SMA achieved is $4.52 while the 200-day SMA is $4.86. Volume ‎gained to 16.05 million from 1.26 million in the previous session.

CALA Stock Support And ‎Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 2.39 level, ‎and in case of violation of this particular level, it will cause more drop to 2.07 level. On the upper level, ‎‎3.51 is still the key resistance. The stock may increase to the subsequent resistance at 3.11. The ‎Relative Strength Index (RSI) pinned on the 14-day chart is 24.15, implying a oversold technical stance ‎while the MACD stands at -0.78, meaning price will decrease in the next trading period. Percent R ‎indicator moved to 93.02%, implying bearish price movement. Stochastic %K at 9.34% suggest selling ‎the stock.

What is the short interest in Calithera Biosciences Inc.?

Short interest in the ‎Calithera Biosciences Inc. stock has surged, increasing by 0.71 million shares to total 2.02 million shares ‎on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.73 million, data from Yahoo ‎Finance shows. The decrease of -35.15% suggests the stock saw some decreased bullish sentiment. ‎The stock’s days to cover (short ratio) moved to while the shorted shares account for just 5.13% of the ‎overall float for the stock.

Calithera Biosciences Inc.’s Biggest Shareholders: Who Owns Calithera ‎Biosciences Inc. [CALA]?

Filings by PRIMECAP Management Co. showed that the firm now holds a ‎total of 10,061,500 shares or roughly 14.26% of the outstanding CALA shares. This means their shares ‎have reduced by -6,300 from the 10,061,500 the investor reportedly held in its prior 13-F filing. With ‎the conclusion of the sale, Federated Global Investment Manag updated stake is worth $36,594,284. ‎Details in the latest 13F filings reveal that BVF Partners LP disposed off their -35.33% stake valued at ‎‎$22,515,483 while BlackRock Fund Advisors cut theirs at $21,123,723. During the last quarter, BVF ‎Partners LP liquidated -2,505,000 of its shares in Calithera Biosciences Inc. while BlackRock Fund ‎Advisors sold -7,776 shares. The Point72 Asset Management LP’s holdings currently number 3,727,506 ‎shares at $10138816.32. According to the firm’s last 13F report, The Vanguard Group, Inc. shares in the ‎company at filing stood at 3,368,536 shares, roughly $16,539,512.‎

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CALA Earnings Forecast For The Current Quarter

Calithera ‎Biosciences Inc. [CALA] is expected to report strong earnings results for the quarter ending on Dec ‎‎2020. Consensus estimates give the company expected revenues of $600k and an earnings per share ‎of -$0.32 for Dec 2020. ‎

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