Calidi Biotherapeutics (CLDI) stock rocketed higher on Wednesday after the clinical-stage immuno-oncology company was featured in an editorial published by NetworkNewsWire. The publication is focused on the company’s efforts to develop a product that utilizes genetic medicines to treat cancer, including both primary tumors and metastatic sites of the disease.
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With 20 million people diagnosed with cancer each year, and that number expected to grow to 35 million by 2050, there’s still a high need for treatments. Calidi Biotherapeutics’ efforts are a novel approach to treating cancer with the precise administration of genetic medicines.
Calidi Biotherapeutics stock was up 171.84% in pre-market trading on Wednesday, following a 39.47% rally yesterday. However, the stock has fallen 70.87% year-to-date and 77.9% over the past 12 months. Today’s rally came with heavy trading, as over 159 million shares changed hands, compared to a three-month daily average of 1.34 million shares.
Is Calidi Biotherapeutics Stock a Buy, Sell, or Hold?
Turning to Wall Street, coverage of Calidi Biotherapeutics is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates CLDI an Underperform (37) with no price target. It cites “significant financial and technical challenges, typical of a developing biotech company” as reasons for this stance.
