KALA BIO Shares to Reverse Split on Monday, November 16th (NASDAQ:KALA)

KALA BIO, Inc. (NASDAQ:KALA) shares are set to reverse split on Monday, November 16th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, November 15th.

KALA BIO Stock Down 5.8%

KALA traded down $0.01 during trading on Thursday, reaching $0.16. The company had a trading volume of 381,307 shares, compared to its average volume of 223,330. The business has a 50 day simple moving average of $0.34 and a 200-day simple moving average of $5.67. The stock has a market cap of $3.11 million, a P/E ratio of -0.01 and a beta of -2.19. KALA BIO has a 52 week low of $0.11 and a 52 week high of $95.50.

KALA BIO (NASDAQ:KALA) last released its earnings results on Wednesday, August 19th. The company reported ($21.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.00) by ($15.32).

Wall Street Analyst Weigh In

Several research firms have issued reports on KALA. Wall Street Zen raised shares of KALA BIO from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in KALA BIO stock. Renaissance Technologies LLC boosted its holdings in shares of KALA BIO, Inc. (NASDAQ:KALA) by 920.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 417,517 shares of the company’s stock after purchasing an additional 376,612 shares during the period. Renaissance Technologies LLC owned about 2.25% of KALA BIO worth $72,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Company Profile

KALA BIO, Inc. is a clinical-stage biopharmaceutical company focused on developing therapies for rare and severe eye diseases. The company is centered on its mesenchymal stem cell secretome platform, which is designed to deliver multiple naturally occurring growth factors and proteins that may support tissue repair and reduce inflammation. KALA BIO’s lead investigational product candidate, KPI-012, is being developed for the treatment of persistent corneal epithelial defects, a condition in which the surface of the cornea does not heal properly.