An upward revision in the one-year price target for the pharmaceutical company, CalciMedica (NasdaqCM:CALC), has propelled it to $16.70 per share. This spike signifies a remarkable surge of 61.73% from the previously estimated $10.33, which was dated back to January 16, 2024.
Analysts contributed to this new average price target, creating a spectrum that ranges from a low of $9.60 to a high of $23.10 per share. The implications are promising, as the average price target portrays a staggering rise of 271.99% from the most recent closing price of $4.49 per share.
Assessing Fund Sentiment
Currently, 22 funds or institutions have disclosed their positions in CalciMedica, indicating a 4.76% increase in the last quarter. The average portfolio weight across all funds devoted to CALC now stands at 0.02%, surging by 36.57%. Institutional ownership has concurrently witnessed growth, with total shares escalating by 24.44% over the last three months, reaching 531K shares.
Insight into Shareholder Behavior
Orbimed Advisors continue to hold 297K shares, representing 2.77% ownership of the company, with no modifications in the last quarter.
BML Capital Management upped its stake to 145K shares, reflecting a 38.95% stake in the company, a notable surge from their prior ownership of 89K shares. Furthermore, the firm significantly amplified its portfolio allocation in CALC by a substantial 45.30% over the previous quarter.
Meritage Portfolio Management increased their shareholding to 46K shares, showcasing a 78.26% jump from their previous ownership of 10K shares. Impressively, the firm boosted its portfolio allocation in CALC by a remarkable 336.53% over the last quarter.
Geode Capital Management stands at 13K shares, having retained a 0.12% stake in the company without any changes in the preceding quarter.
First Manhattan also holds 13K shares, representing a 0.12% ownership share in the company, with no alterations reported in the last quarter.
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