KALA BIO, Inc. (NASDAQ:KALA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of KALA BIO, Inc. (NASDAQ:KALA) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.3750.

Several equities research analysts have weighed in on the stock. LADENBURG THALM/SH SH cut shares of KALA BIO from a “buy” rating to a “neutral” rating in a research report on Monday, September 29th. Lifesci Capital cut shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of KALA BIO in a report on Monday, December 8th. HC Wainwright reaffirmed a “neutral” rating on shares of KALA BIO in a report on Monday, September 29th. Finally, Oppenheimer increased their price objective on KALA BIO from $15.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, September 11th.

Insider Buying and Selling at KALA BIO

In related news, Director Mark T. Iwicki sold 154,894 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $0.81, for a total value of $125,464.14. Following the transaction, the director owned 103,540 shares in the company, valued at $83,867.40. This trade represents a 59.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bros. Advisors Lp Baker sold 513,607 shares of KALA BIO stock in a transaction dated Wednesday, October 1st. The stock was 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. The trade was a 91.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,033,821 shares of company stock valued at $1,304,385 over the last ninety days. Company insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On KALA BIO

A number of institutional investors and hedge funds have recently modified their holdings of KALA. AIGH Capital Management LLC lifted its holdings in KALA BIO by 52.8% in the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock valued at $1,428,000 after buying an additional 103,650 shares during the period. ADAR1 Capital Management LLC grew its holdings in KALA BIO by 35.7% during the 1st quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock worth $1,713,000 after acquiring an additional 78,582 shares during the period. Woodline Partners LP bought a new stake in shares of KALA BIO during the 1st quarter valued at $1,483,000. Geode Capital Management LLC raised its position in shares of 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 during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of KALA BIO in the 2nd quarter valued at $62,000. 24.61% of the stock is owned by institutional investors.

KALA BIO Price Performance

KALA BIO stock opened at $0.56 on Wednesday. The business’s fifty day moving average is $0.89 and its two-hundred day moving average is $5.59. The company has a debt-to-equity ratio of 3.19, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $5.46 million, a P/E ratio of -0.09 and a beta of -2.50. KALA BIO has a 52 week low of $0.55 and a 52 week high of $20.60.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). Equities research analysts forecast that KALA BIO will post -10.84 earnings per share for the current fiscal year.

About KALA BIO

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.