Calithera Biosciences Inc (NASDAQ:CALA) was down 7.9% during mid-day trading on Monday . The company traded as low as $8.60 and last traded at $8.75. Approximately 953,475 shares changed hands during trading, an increase of 29% from the average daily volume of 741,874 shares. The stock had previously closed at $9.50.

A number of equities research analysts have issued reports on CALA shares. William Blair started coverage on Calithera Biosciences in a research report on Thursday, October 5th. They set an “outperform” rating for the company. Zacks Investment Research raised Calithera Biosciences from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, November 6th. ValuEngine downgraded Calithera Biosciences from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, BidaskClub downgraded Calithera Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $15.17.

Calithera Biosciences (NASDAQ:CALA) last issued its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. The company had revenue of $7.20 million during the quarter, compared to analysts’ expectations of $6.02 million. research analysts forecast that Calithera Biosciences Inc will post -0.77 earnings per share for the current fiscal year.

In other news, major shareholder Adage Capital Partners Gp, L.L sold 576,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $15.64, for a total value of $9,008,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CALA. Vanguard Group Inc. boosted its position in shares of Calithera Biosciences by 99.8% in the first quarter. Vanguard Group Inc. now owns 925,015 shares of the biotechnology company’s stock worth $10,684,000 after buying an additional 462,137 shares during the period. Geode Capital Management LLC boosted its position in shares of Calithera Biosciences by 61.6% in the first quarter. Geode Capital Management LLC now owns 107,169 shares of the biotechnology company’s stock worth $1,236,000 after buying an additional 40,841 shares during the period. Morgan Stanley boosted its position in shares of Calithera Biosciences by 1,053.6% in the first quarter. Morgan Stanley now owns 98,161 shares of the biotechnology company’s stock worth $1,133,000 after buying an additional 89,652 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Calithera Biosciences by 249.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 71,600 shares of the biotechnology company’s stock worth $1,064,000 after buying an additional 51,100 shares during the period. Finally, Rhumbline Advisers purchased a new stake in shares of Calithera Biosciences in the second quarter worth about $503,000. 72.19% of the stock is owned by institutional investors.

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About Calithera Biosciences

Calithera Biosciences, Inc is a clinical-stage pharmaceutical company. The Company focuses on discovering and developing small molecule drugs directed against tumor and immune cell targets that control key metabolic pathways in the tumor microenvironment. It 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.

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