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

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

Several brokerages recently issued reports on KALA. Lifesci Capital lowered shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Wall Street Zen cut shares of KALA BIO from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of KALA BIO in a research note on Wednesday. HC Wainwright reaffirmed a “neutral” rating on shares of KALA BIO in a research report on Monday, September 29th. Finally, Mizuho set a $1.50 price target on KALA BIO in a report on Tuesday, September 30th.

KALA BIO Trading Up 7.2%

NASDAQ KALA traded up $0.07 during trading hours on Friday, hitting $0.98. 4,056,837 shares of the company’s stock were exchanged, compared to its average volume of 548,482. The firm has a market cap of $6.85 million, a price-to-earnings ratio of -0.14 and a beta of -2.22. The stock has a 50-day simple moving average of $2.75 and a 200 day simple moving average of $5.81. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 3.19. KALA BIO has a 1-year low of $0.61 and a 1-year high of $20.60.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.06). On average, equities analysts forecast that KALA BIO will post -10.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Bros. Advisors Lp Baker sold 513,607 shares of KALA BIO stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1.38, for a total value of $708,777.66. Following the completion of the sale, the insider owned 46,480 shares of the company’s stock, valued at approximately $64,142.40. This trade represents a 91.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Todd Bazemore sold 47,768 shares of the business’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 $39,647.44. Following the sale, the director owned 35,932 shares of the company’s stock, valued at $29,823.56. This trade represents a 57.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,033,821 shares of company stock worth $1,304,385 over the last quarter. Corporate insiders own 8.32% of the company’s stock.

Institutional Trading of KALA BIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ADAR1 Capital Management LLC lifted its holdings 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 valued at $1,713,000 after purchasing an additional 78,582 shares in the last quarter. AIGH Capital Management LLC grew its holdings in KALA BIO by 52.8% during the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after buying an additional 103,650 shares in the last quarter. Readystate Asset Management LP purchased a new stake in KALA BIO in the 1st quarter valued at $243,000. XTX Topco Ltd bought a new position in KALA BIO during the 2nd quarter valued at $62,000. Finally, Geode Capital Management LLC lifted its stake in KALA BIO by 2.8% during 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. 24.61% of the stock is owned by institutional investors.

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.