Calidi Biotherapeutics (NYSEAMERICAN:CLDI) Trading Down 7.2%

Calidi Biotherapeutics, Inc. (NYSEAMERICAN:CLDI) dropped 7.2% during trading on Friday . The stock traded as low as $0.18 and last traded at $0.18. Approximately 383,038 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 3,360,357 shares. The stock had previously closed at $0.20.

Analysts Set New Price Targets

Several research analysts have weighed in on CLDI shares. HC Wainwright lowered their target price on shares of Calidi Biotherapeutics from $11.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Robert W. Baird lowered their price target on Calidi Biotherapeutics from $4.50 to $2.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th.

Calidi Biotherapeutics Price Performance

Calidi Biotherapeutics (NYSEAMERICAN:CLDI) last posted its earnings results on Tuesday, May 14th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.07.

Hedge Funds Weigh In On Calidi Biotherapeutics

Several hedge funds have recently bought and sold shares of the stock. Magnetar Financial LLC purchased a new stake in shares of Calidi Biotherapeutics in the first quarter valued at $36,000. Evermay Wealth Management LLC purchased a new stake in Calidi Biotherapeutics during the 1st quarter worth about $36,000. Apollo Management Holdings L.P. acquired a new position in Calidi Biotherapeutics in the 1st quarter valued at about $71,000. Finally, Spectrum Asset Management Inc. NB CA purchased a new position in Calidi Biotherapeutics in the 1st quarter valued at about $94,000. Hedge funds and other institutional investors own 12.53% of the company’s stock.

About Calidi Biotherapeutics

Calidi Biotherapeutics, Inc, a clinical stage immuno-oncology company, engages in developing allogeneic stem cell-based platforms to potentiate and deliver oncolytic viruses to cancer patients in the United States. Its product pipeline comprising CLD-101, which is in phase 1b clinical trial for the treatment of high grade glioma; CLD-101, which is in phase 1 clinical trial for the treatment of recurrent high grade glioma; CLD-201, which is in preclinical trial for the treatment of advanced solid tumors, such as triple-negative breast cancer, metastatic/unresectable melanoma, head and neck squamous cell carcinoma, advanced soft tissue sarcoma, and advanced basal cell carcinoma; and CLD-400, which is in preclinical trial for the treatment of lung cancer and metastatic solid tumors.