Notable Runner: Is Buying Calithera Biosciences Inc Here a Winning Strategy? The Stock Just Gapped Up

Notable Runner: Is Buying Calithera Biosciences Inc Here a Winning Strategy? The Stock Just Gapped Up

The stock of Calithera Biosciences Inc (NASDAQ:CALA) gapped up by $0.01 today and has $6.73 target or 94.00% above today’s $3.47 share price. The 7 months technical chart setup indicates low risk for the $71.83M company. The gap was reported on Oct, 4 by If the $6.73 price target is reached, the company will be worth $67.52 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 6.77% or $0.22 during the last trading session, hitting $3.47. About 716,666 shares traded hands or 496.41% up from the average. Calithera Biosciences Inc (NASDAQ:CALA) has declined 43.85% since March 1, 2016 and is downtrending. It has underperformed by 56.07% the S&P500.

Analysts await Calithera Biosciences Inc (NASDAQ:CALA) to report earnings on November, 14. They expect $-0.47 EPS, up 4.08% or $0.02 from last year’s $-0.49 per share. After $-0.55 actual EPS reported by Calithera Biosciences Inc for the previous quarter, Wall Street now forecasts -14.55% EPS growth.

Calithera Biosciences Inc (NASDAQ:CALA) Ratings Coverage

Out of 3 analysts covering Calithera Biosciences (NASDAQ:CALA), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Calithera Biosciences has been the topic of 3 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by JMP Securities with “Market Outperform” on Wednesday, March 9. The firm has “Buy” rating by Citigroup given on Friday, July 24.

According to Zacks Investment Research, “Calithera Biosciences, Inc. is a clinical-stage pharmaceutical company. It is focused on discovering and developing small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer. The Company’s lead product candidate includes CB-839 which is in three Phase I clinical trials for the treatment of patients with solid tumors, leukemias, lymphomas, and multiple myeloma. Calithera Biosciences, Inc. is headquartered in South San Francisco, California.”

Insitutional Activity: The institutional sentiment decreased to 0.47 in Q2 2016. Its down 0.57, from 1.04 in 2016Q1. The ratio turned negative, as 16 funds sold all Calithera Biosciences Inc shares owned while 18 reduced positions. 9 funds bought stakes while 7 increased positions. They now own 7.04 million shares or 18.29% less from 8.61 million shares in 2016Q1.
Goldman Sachs owns 24,458 shares or 0% of their US portfolio. Adage Capital Prns Group Ltd Llc, a Massachusetts-based fund reported 3.14M shares. Tower Rech Cap Limited Liability Company (Trc), a New York-based fund reported 1,009 shares. Bridgeway Cap Management last reported 0.01% of its portfolio in the stock. Pnc Fincl Svcs Grp Inc reported 5 shares or 0% of all its holdings. Lmr Llp owns 14,573 shares or 0.01% of their US portfolio. Amici Capital Ltd Liability owns 6,360 shares or 0% of their US portfolio. Alpine Partners Vi Limited Liability holds 15,495 shares or 0.03% of its portfolio. Aqr Capital Limited Liability Corporation last reported 0% of its portfolio in the stock. National Bank & Trust Of America De has 3,598 shares for 0% of their US portfolio. First Eagle Investment Ltd Liability Com last reported 205,369 shares in the company. Blackrock Institutional Tru Na last reported 0% of its portfolio in the stock. Fmr Limited Liability Company has 0% invested in the company for 2.00 million shares. Jpmorgan Chase & holds 1,061 shares or 0% of its portfolio. Blackrock Ltd Liability, a Delaware-based fund reported 2,540 shares.

More important recent Calithera Biosciences Inc (NASDAQ:CALA) news were published by: which released: “ProTrials Research, Inc. Selected by Calithera Biosciences, Inc. for Early …” on July 25, 2016, also published article titled: “News Calithera Biosciences Inc.CALA”, published: “Calithera Biosciences to Present at the Leerink Partners Roundtable Series …” on September 22, 2016. More interesting news about Calithera Biosciences Inc (NASDAQ:CALA) was released by: and their article: “Calithera Biosciences, Inc. (CALA) in Focus: Stock Soars 29.9%” with publication date: October 22, 2014.

CALA Company Profile

Calithera Biosciences, Inc., incorporated on March 9, 2010, is a clinical-stage pharmaceutical company. The Firm focuses on discovering and developing small molecule drugs directed against tumor and immune cell targets that control key metabolic pathways in the tumor microenvironment. The Firm is engaged in developing agents that take advantage of the metabolic requirements of tumor cells and cancer-fighting immune cells, such as cytotoxic T-cells. The Company’s lead product candidate, CB-839, is a critical enzyme in tumor cells. The Company’s other product candidate, CB-1158, which is an enzyme that depletes the amino acid arginine, a key metabolic nutrient for T-cells. The Company’s lead preclinical program in tumor immunology is directed at developing inhibitors of the enzyme arginase and may provide a therapeutic agent for the target.

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