Calithera Biosciences Inc (NASDAQ:CALA) Short Interest Up 21.5% in October

Calithera Biosciences Inc (NASDAQ:CALA) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,810,000 shares, a growth of 21.5% from the September 30th total of 1,490,000 shares. Based on an average daily volume of 323,400 shares, the short-interest ratio is currently 5.6 days. Approximately 5.2% of the company’s shares are short sold.

In other Calithera Biosciences news, insider Value Fund L. P. Biotechnology bought 2,396,485 shares of Calithera Biosciences stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $3.33 per share, with a total value of $7,980,295.05. Also, major shareholder Bvf Partners L. P/Il bought 1,598,977 shares of Calithera Biosciences stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of $2.60 per share, for a total transaction of $4,157,340.20. The disclosure for this purchase can be found here. 17.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CALA. SG Americas Securities LLC purchased a new position in shares of Calithera Biosciences during the second quarter valued at approximately $112,000. Wells Fargo & Company MN grew its stake in Calithera Biosciences by 32.6% in the second quarter. Wells Fargo & Company MN now owns 94,890 shares of the biotechnology company’s stock worth $370,000 after purchasing an additional 23,354 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Calithera Biosciences in the second quarter worth $63,000. Monashee Investment Management LLC purchased a new stake in Calithera Biosciences in the second quarter worth $1,170,000. Finally, Acadian Asset Management LLC grew its stake in Calithera Biosciences by 42.2% in the second quarter. Acadian Asset Management LLC now owns 81,239 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 24,125 shares during the period. 63.25% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the company. ValuEngine raised Calithera Biosciences from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research cut Calithera Biosciences from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Citigroup set a $8.00 target price on Calithera Biosciences and gave the company a “hold” rating in a research note on Friday, August 9th.

Shares of CALA traded up $0.10 during mid-day trading on Tuesday, hitting $3.25. 2,101 shares of the company’s stock traded hands, compared to its average volume of 390,383. Calithera Biosciences has a 1 year low of $2.45 and a 1 year high of $6.90. The firm has a market capitalization of $181.76 million, a P/E ratio of -2.18 and a beta of 1.81. The business’s 50-day moving average price is $2.98 and its 200-day moving average price is $4.25.

About Calithera Biosciences

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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