CALC

CalciMedica ($CALC) Executives Double Down with Bold Buying Amid 70% Decline—Analysts See 9x Upside Potential

06/09/2025 20:17

$CALC (CalciMedica) has caught investors' attention with bold insider buying at near-lows, even as shares have plummeted 70% over the past year. This California-based biotech company, with a market cap of $21.3 million, has seen its stock fall from $5.69 in June 2024 to the current $1.72, yet insiders are doubling down on their bets. The most striking example occurred on November 1, 2024, with coordinated cluster buying. CEO A. Rachel Leheny purchased 20,000 shares ($75,000), CBO Eric Roberts bought 53,333 shares ($200,000), and Director Robert Wilson acquired 53,333 shares ($200,000), all at the identical price of $3.75. This wasn't coincidental but appears to be a coordinated investment reflecting strong management confidence in the company's prospects. Even more noteworthy is recent buying at historical lows. On May 30, 2025, CFO Stephen Bardin purchased 1,000 shares at $1.69, while CBO Eric Roberts bought 10,100 shares at $1.70-1.77 on June 5-6. These purchases near multi-year lows suggest insiders with privileged information remain optimistic about the company's future. CalciMedica develops therapeutics targeting calcium homeostasis regulation mechanisms. While the company currently generates zero revenue and posts quarterly losses of $3-5 million, this is typical for development-stage biotech companies. Recent quarterly results show a Q1 2025 loss of 36 cents per share, missing the 31-cent estimate, though previous quarters have shown both beats and misses against expectations. Particularly notable is Wall Street analysts' persistent optimism. Despite the current share price of $1.72, they maintain a 12-month price target of $15.50, suggesting nearly 9x upside potential. All covering analysts maintain 'buy' ratings, reflecting industry confidence in the pipeline. Given biotech sector characteristics, clinical trial results and regulatory approvals critically impact stock prices. While CalciMedica hasn't announced specific clinical timelines or pipeline developments, sustained insider buying suggests positive news may be forthcoming. CBO Eric Roberts has been particularly consistent, purchasing shares six times from June 2024 through June 2025, accumulating 78,433 shares total. Currently, $CALC exhibits high volatility typical of small-cap biotech stocks. The stock experienced a near-40% single-day drop in late June 2024, yet insider buying followed immediately. This suggests a disconnect between market pessimism and insider assessment of actual company prospects. In biotech investing, insider trading serves as a particularly important signal since management teams have the most intimate knowledge of R&D progress and clinical prospects. For $CALC, there have been no insider sales over the past year—only consistent buying—indicating strong management conviction about the company's trajectory.

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