KALA BIO (NASDAQ:KALA) Trading Down 10.2% – Here’s What Happened

Shares of KALA BIO, Inc. (NASDAQ:KALA) traded down 10.2% on Monday . The stock traded as low as $0.60 and last traded at $0.6062. 2,068,405 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 21,455,346 shares. The stock had previously closed at $0.6752.

Wall Street Analyst Weigh In

KALA has been the topic of a number of recent analyst reports. Oppenheimer lifted their price objective on KALA BIO from $15.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Weiss Ratings restated a “sell (d-)” rating on shares of KALA BIO in a research report on Monday, December 8th. LADENBURG THALM/SH SH lowered shares of KALA BIO from a “buy” rating to a “neutral” rating in a research note on Monday, September 29th. Mizuho set a $1.50 target price on shares of KALA BIO in a research note on Tuesday, September 30th. Finally, Lifesci Capital lowered shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.38.

KALA BIO Stock Down 10.2%

The company has a market cap of $5.96 million, a price-to-earnings ratio of -0.10 and a beta of -2.50. The stock’s 50-day moving average is $0.92 and its 200-day moving average is $5.61. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.19.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). On average, analysts anticipate that KALA BIO, Inc. will post -10.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Romulus K. Brazzell sold 46,748 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total value of $38,800.84. Following the transaction, the insider owned 35,952 shares of the company’s stock, valued at approximately $29,840.16. This trade represents a 56.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark T. Iwicki sold 154,894 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $0.81, for a total value of $125,464.14. Following the sale, the director owned 103,540 shares of the company’s stock, valued at $83,867.40. This trade represents a 59.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,033,821 shares of company stock worth $1,304,385 over the last ninety days. Insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On KALA BIO

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in KALA BIO during the second quarter worth $62,000. Geode Capital Management LLC grew its stake in KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after purchasing an additional 1,534 shares during the period. AIGH Capital Management LLC grew its stake in KALA BIO by 52.8% in the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock valued at $1,428,000 after purchasing an additional 103,650 shares during the period. Woodline Partners LP purchased a new stake in shares of KALA BIO during the 1st quarter valued at $1,483,000. Finally, ADAR1 Capital Management LLC raised its stake in shares of KALA BIO by 35.7% during the 1st quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock worth $1,713,000 after purchasing an additional 78,582 shares during the period. 24.61% of the stock is owned by institutional investors.

KALA BIO Company Profile

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.