KALA BIO (NASDAQ:KALA) Posts Quarterly Earnings Results, Misses Expectations By $15.32 EPS

KALA BIO (NASDAQ:KALA) announced its quarterly earnings results on Wednesday. The company reported ($21.32) EPS for the quarter, missing the consensus estimate of ($6.00) by ($15.32), FiscalAI reports.

KALA BIO Price Performance

Shares of KALA stock opened at $0.90 on Thursday. The stock has a market cap of $17.41 million, a PE ratio of -0.01 and a beta of -2.26. The stock has a 50-day moving average of $1.48 and a 200-day moving average of $7.47. KALA BIO has a one year low of $0.59 and a one year high of $1,030.00.

Hedge Funds Weigh In On KALA BIO

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in KALA BIO by 2.8% during the 2nd 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. XTX Topco Ltd acquired a new stake in shares of KALA BIO in the 2nd quarter valued at about $62,000. Virtu Financial LLC bought a new stake in shares of KALA BIO in the fourth quarter valued at about $48,000. Jane Street Group LLC bought a new stake in shares of KALA BIO in the fourth quarter valued at about $80,000. Finally, Woodline Partners LP acquired a new position in shares of KALA BIO during the first quarter worth about $1,483,000. Institutional investors own 24.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on KALA. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. Wall Street Zen raised shares of KALA BIO from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $1,158.33.

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.