KALA BIO (NASDAQ:KALA) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

KALA BIO, Inc. (NASDAQ:KALA)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.93 and traded as low as $0.6301. KALA BIO shares last traded at $0.6734, with a volume of 36,636 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on KALA shares. Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. Wall Street Zen cut KALA BIO from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, KALA BIO currently has an average rating of “Hold” and an average price target of $1,158.33.

KALA BIO Stock Performance

The business’s 50 day moving average price is $1.89 and its 200-day moving average price is $10.39. The firm has a market capitalization of $14.62 million, a PE ratio of -0.01 and a beta of -2.35.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($8.50) by $8.36.

Institutional Investors Weigh In On KALA BIO

A number of institutional investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of KALA BIO in the 2nd quarter valued at $62,000. Geode Capital Management LLC grew its position 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 acquiring an additional 1,534 shares in the last quarter. Virtu Financial LLC purchased a new stake in KALA BIO during the fourth quarter worth about $48,000. Jane Street Group LLC purchased a new stake in KALA BIO during the fourth quarter worth about $80,000. Finally, Woodline Partners LP acquired a new stake in shares of KALA BIO during the first quarter worth about $1,483,000. 24.61% of the stock is owned by institutional investors and hedge funds.

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.