Fred A. Middleton, a director and significant shareholder of CalciMedica, Inc. (NASDAQ:CALC), has increased his stake in the company. According to a recent SEC filing, Middleton acquired 4,800 shares of the company's common stock on December 6th at a price of $2.65 per share, amounting to a total purchase of $12,720. The purchase comes as InvestingPro data shows the stock trading near its 52-week low of $2.05, with a sharp 17% decline over the past week.
Following this transaction, Middleton directly owns 36,514 shares of CalciMedica. Additionally, he holds indirect ownership interests through various entities, including Sanderling Venture Partners and Golden Triangle Ventures, among others. These holdings reflect Middleton's continued investment and confidence in CalciMedica's prospects. While the company maintains strong liquidity with a current ratio of 4.15, InvestingPro analysis reveals several additional insights about the company's financial health and market position. Subscribers can access 8 more exclusive ProTips and detailed valuation metrics to better understand this insider buying signal.
In other recent news, biopharmaceutical company CalciMedica has seen several significant developments. The company reported positive results from its Phase 2b CARPO trial of Auxora for the treatment of acute pancreatitis with systemic inflammatory response syndrome, demonstrating a significant dose-response and up to a 43.6% relative reduction in median time to solid food tolerance compared to placebo. Following these results, H.C. Wainwright adjusted its price target for CalciMedica to $16.00, maintaining a Buy rating on the stock.
CalciMedica also initiated a public stock offering, with JonesTrading Institutional Services LLC as the sole book-running manager. The company expanded its 2023 Equity Incentive Plan by 1.5 million shares, following stockholder approval. In corporate governance, two Class I directors were elected and Moss Adams LLP was ratified as the principal independent registered public accounting firm for the fiscal year ending December 31, 2024.
In addition to these developments, CalciMedica announced significant changes to its executive team with the appointment of Stephen Bardin as the new Chief Financial Officer. Bardin, who has been consulting for CalciMedica since April 2024, brings a wealth of experience from his previous roles. Analyst firms, including Oppenheimer and Singular Research, have maintained positive ratings for CalciMedica, citing the company's recent clinical advancements and the market potential of its treatments. These are the recent developments in the company's operations.
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