5 Best Penny Stocks To Invest In

3. Calithera Biosciences, Inc. (NASDAQ:CALA)

Share Price as of June 8: $0.1914

Number of Hedge Funds Holders: 10

Calithera Biosciences, Inc. (NASDAQ:CALA) is a San Francisco, California-based biotech company developing targeted therapies that starve tumor cells by interrupting the cellular metabolic pathways and enhancing the activity of immune cells.

In a note issued to investors on May 11, Aydin Huseynov at Ladenburg reiterated a Buy rating on Calithera Biosciences, Inc. (NASDAQ:CALA) stock and gave a price target of $1.50, reflecting a significant upside potential from the previous closing price. The analyst highlighted that Calithera Biosciences, Inc. (NASDAQ:CALA) is working on developing two in-licensed oncology assets together. However, the approach is not supported by the stock price and the cash burn that the firm is incurring. The analyst notes that Calithera Biosciences, Inc. (NASDAQ:CALA) may be forced to focus on mivavotinib and lower its expenses.

At the end of Q1 2022, Calithera Biosciences, Inc. (NASDAQ:CALA) was held by 10 hedge funds.