Darius Kharabi Sells 20,806 Shares of KALA BIO (NASDAQ:KALA) Stock

KALA BIO, Inc. (NASDAQ:KALA) insider Darius Kharabi sold 20,806 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total transaction of $17,268.98. Following the completion of the transaction, the insider directly owned 41,760 shares in the company, valued at $34,660.80. This trade represents a 33.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

KALA BIO Stock Performance

Shares of KALA stock opened at $0.80 on Friday. The firm has a 50-day moving average of $9.01 and a 200-day moving average of $6.29. The company has a market cap of $5.59 million, a P/E ratio of -0.12 and a beta of -2.10. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.10 and a quick ratio of 2.10. KALA BIO, Inc. has a one year low of $0.77 and a one year high of $20.60.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Friday, August 8th. The company reported ($1.71) EPS for the quarter, beating the consensus estimate of ($1.82) by $0.11. Equities research analysts forecast that KALA BIO, Inc. will post -10.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of 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 buying an additional 1,534 shares during the period. XTX Topco Ltd purchased a new position in shares of KALA BIO in the second quarter worth $62,000. Readystate Asset Management LP purchased a new position in shares of KALA BIO in the first quarter worth $243,000. AIGH Capital Management LLC increased its stake in shares of KALA BIO by 61.9% in the first quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock worth $1,125,000 after buying an additional 75,048 shares during the period. Finally, ADAR1 Capital Management LLC increased its stake in shares of KALA BIO by 35.7% in the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock worth $1,713,000 after buying an additional 78,582 shares during the period. 24.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on KALA shares. Lifesci Capital lowered shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KALA BIO in a report on Wednesday, October 8th. Mizuho set a $1.50 target price on shares of KALA BIO in a report on Tuesday, September 30th. Oppenheimer upped their target price on shares of KALA BIO from $15.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of KALA BIO in a report on Monday, September 29th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.38.

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.