KALA BIO (NASDAQ:KALA) Price Target Cut to $22.00 by Analysts at HC Wainwright

KALA BIO (NASDAQ:KALA) had its price objective cut by HC Wainwright from $24.00 to $22.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

KALA BIO Trading Up 9.4 %

Shares of KALA BIO stock opened at $5.97 on Friday. The stock has a market cap of $16.06 million, a P/E ratio of -0.26 and a beta of -1.49. The stock’s 50 day simple moving average is $8.04 and its 200-day simple moving average is $12.32. KALA BIO has a 1-year low of $3.54 and a 1-year high of $56.72. The company has a debt-to-equity ratio of 3.36, a current ratio of 5.62 and a quick ratio of 6.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of KALA BIO by 9.7% during the 1st quarter. State Street Corp now owns 1,224,965 shares of the company’s stock worth $1,690,000 after purchasing an additional 108,674 shares during the last quarter. Millennium Management LLC lifted its holdings in KALA BIO by 1,044.4% in the second quarter. Millennium Management LLC now owns 572,189 shares of the company’s stock valued at $172,000 after acquiring an additional 522,189 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in KALA BIO by 22.8% in the third quarter. Renaissance Technologies LLC now owns 436,800 shares of the company’s stock valued at $97,000 after acquiring an additional 81,200 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in KALA BIO by 173.6% in the second quarter. Goldman Sachs Group Inc. now owns 243,918 shares of the company’s stock valued at $74,000 after acquiring an additional 154,756 shares during the last quarter. Finally, Virtu Financial LLC lifted its holdings in KALA BIO by 11.3% in the first quarter. Virtu Financial LLC now owns 140,511 shares of the company’s stock valued at $194,000 after acquiring an additional 14,280 shares during the last quarter. 23.98% of the stock is currently owned by institutional investors and hedge funds.

KALA BIO Company Profile

KALA BIO, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for the treatment of eye diseases. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects; EYSUVIS for the short-term treatment of the signs and symptoms of dry eye disease; and INVELTYS, a topical twice-a-day ocular steroid for the treatment of post-operative inflammation and pain following ocular surgery.