KALA BIO (NASDAQ:KALA) Director Todd Bazemore Sells 47,768 Shares

KALA BIO, Inc. (NASDAQ:KALA) Director Todd Bazemore sold 47,768 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total transaction of $39,647.44. Following the sale, the director directly owned 35,932 shares of the company’s stock, valued at approximately $29,823.56. This represents a 57.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

KALA BIO Stock Performance

Shares of NASDAQ KALA opened at $0.80 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 3.19. The firm’s 50-day moving average price is $9.01 and its two-hundred day moving average price is $6.27. KALA BIO, Inc. has a 52-week low of $0.77 and a 52-week high of $20.60. The stock has a market capitalization of $5.59 million, a P/E ratio of -0.12 and a beta of -2.10.

KALA BIO (NASDAQ:KALA) last posted its earnings results on Friday, August 8th. The company reported ($1.71) EPS for the quarter, beating the consensus estimate of ($1.82) by $0.11. As a group, sell-side analysts forecast that KALA BIO, Inc. will post -10.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “neutral” rating on shares of KALA BIO in a research report on Monday, September 29th. LADENBURG THALM/SH SH lowered shares of KALA BIO from a “buy” rating to a “neutral” rating in a research report on Monday, September 29th. Lifesci Capital downgraded shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Mizuho set a $1.50 target price on shares of KALA BIO in a research report on Tuesday, September 30th. Finally, Wall Street Zen lowered shares of KALA BIO from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.38.

Hedge Funds Weigh In On KALA BIO

A number of institutional investors and hedge funds have recently bought and sold shares of KALA. AIGH Capital Management LLC raised its position in shares of KALA BIO by 52.8% during the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after buying an additional 103,650 shares in the last quarter. ADAR1 Capital Management LLC increased its stake in shares of KALA BIO by 35.7% during the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock valued at $1,713,000 after acquiring an additional 78,582 shares during the period. Woodline Partners LP acquired a new position in shares of KALA BIO during the first quarter valued at approximately $1,483,000. Geode Capital Management LLC raised its holdings in KALA BIO by 2.8% during the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after purchasing an additional 1,534 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new stake in KALA BIO in the first quarter worth approximately $243,000. Institutional investors own 24.61% of the company’s stock.

About KALA BIO

KALA BIO, Inc, a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of innovative therapies for rare and severe eye diseases in the United States. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects.