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Why Is It Moving? Analyzing The Downward Movement in Calithera Biosciences's Stock Today

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Calithera Biosciences’s Stock Price And Volume Action

Calithera Biosciences’s (NASDAQ: CALA) stock has been falling Monday, down 41.55% to a price of $2.92. The stock’s volume is currently 9.18 million, which is roughly 1058.14% of its recent 30-day volume average of 867.52 thousand.

Why It’s Moving

Benzinga Pro's real-time breaking news service shows some insight into what is affecting shares: Calithera Biosciences shares are trading lower after the company announced that its CANTATA study of Telaglenastat in Renal Cell Carcinoma did not achieve its primary endpoint. The company also announced a reduction in workforce by roughly 35%.

Insights On Recent Price Action

The 50-day moving average price of Calithera Biosciences’s stock was $4.54 when this article was published. The stock reached a high of $8.18 and a low of $2.99 in the past 52 weeks.

If you’re looking for timely and concise explanations of why a stock is moving, check out Benzinga Pro. Subscribers get ‘Why Is It Moving’ alerts as soon as our research team identifies the cause of the price action in a stock. Click here to learn more.

 

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