Calidi Biotherapeutics (NYSE:CLDI) Stock Price Up 3.4% – Should You Buy?

Calidi Biotherapeutics, Inc. (NYSE:CLDI)’s share price rose 3.4% during mid-day trading on Friday . The company traded as high as $1.29 and last traded at $1.23. Approximately 227,006 shares were traded during mid-day trading, an increase of 61% from the average daily volume of 140,845 shares. The stock had previously closed at $1.19.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH initiated coverage on shares of Calidi Biotherapeutics in a research report on Thursday, June 27th. They issued a “buy” rating and a $10.00 price target on the stock.

Calidi Biotherapeutics Trading Up 3.4 %

The stock’s 50-day moving average price is $1.21.

Calidi Biotherapeutics (NYSE:CLDI) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.43) by $0.03. As a group, sell-side analysts expect that Calidi Biotherapeutics, Inc. will post -4.38 EPS for the current year.

Institutional Trading of Calidi Biotherapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CLDI. CPR Investments Inc. raised its position in shares of Calidi Biotherapeutics by 700.0% during the 2nd quarter. CPR Investments Inc. now owns 560,000 shares of the company’s stock worth $112,000 after buying an additional 490,000 shares in the last quarter. RS Crum Inc. grew its stake in shares of Calidi Biotherapeutics by 2,327.4% in the 2nd quarter. RS Crum Inc. now owns 263,470 shares of the company’s stock worth $53,000 after purchasing an additional 252,616 shares during the last quarter. Delta Investment Management LLC grew its stake in shares of Calidi Biotherapeutics by 1,955.0% in the 2nd quarter. Delta Investment Management LLC now owns 210,230 shares of the company’s stock worth $42,000 after purchasing an additional 200,000 shares during the last quarter. Apollo Management Holdings L.P. acquired a new position in shares of Calidi Biotherapeutics in the 1st quarter worth approximately $71,000. Finally, Evermay Wealth Management LLC acquired a new position in shares of Calidi Biotherapeutics in the 1st quarter worth approximately $36,000. 12.53% of the stock is currently owned by institutional investors.

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.