KALA BIO, Inc. (NASDAQ:KALA) Given Average Recommendation of “Hold” by Brokerages

KALA BIO, Inc. (NASDAQ:KALA) has received an average rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $20.3750.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research report on Monday, December 29th.

Institutional Trading of KALA BIO

Hedge funds and other institutional investors have recently made changes to their positions in the company. Woodline Partners LP purchased a new stake in shares of KALA BIO during the 1st quarter valued at approximately $1,483,000. Geode Capital Management LLC grew its position in KALA BIO by 2.8% in the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after acquiring an additional 1,534 shares during the period. XTX Topco Ltd acquired a new stake in KALA BIO during the second quarter worth $62,000. Jane Street Group LLC acquired a new stake in KALA BIO during the fourth quarter worth $80,000. Finally, Baker BROS. Advisors LP raised its position in KALA BIO by 83.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after purchasing an additional 818,962 shares during the period. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Stock Up 1.1%

Shares of KALA opened at $0.28 on Monday. KALA BIO has a 52-week low of $0.26 and a 52-week high of $20.60. The stock has a fifty day simple moving average of $0.50 and a two-hundred day simple moving average of $3.41. The company has a market capitalization of $253.44 million, a PE ratio of -0.05 and a beta of -2.37.

About KALA BIO

KALA Bio (NASDAQ: KALA) is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for ocular diseases. The company’s proprietary surface charge–based nanoparticle delivery platform is designed to enhance penetration and retention of therapeutic agents on the ocular surface. This technology is the basis for its lead product, Eysuvis (KPI-121 1.0%), an FDA-approved topical corticosteroid for short-term relief of ocular itching associated with allergic conjunctivitis.

Beyond its approved therapy, KALA Bio is advancing a pipeline of investigational drug candidates targeting inflammatory and degenerative eye conditions.