KALA BIO (NASDAQ:KALA) Shares Gap Down – Should You Sell?

Shares of KALA BIO, Inc. (NASDAQ:KALA) gapped down prior to trading on Monday . The stock had previously closed at $3.9650, but opened at $3.62. KALA BIO shares last traded at $3.42, with a volume of 31,808 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1,018.75.

KALA BIO Price Performance

The firm’s 50 day moving average is $0.22 and its two-hundred day moving average is $0.50. The firm has a market capitalization of $3.37 billion, a P/E ratio of -1.09 and a beta of -2.23.

KALA BIO (NASDAQ:KALA) last released its earnings results on Wednesday, April 15th. The company reported $43.00 earnings per share for the quarter, beating the consensus estimate of ($8.50) by $51.50.

Institutional Investors Weigh In On KALA BIO

Several hedge funds have recently bought and sold shares of KALA. Woodline Partners LP acquired a new stake in KALA BIO in the 1st quarter valued at about $1,483,000. Geode Capital Management LLC lifted its stake 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 purchasing an additional 1,534 shares during the last quarter. XTX Topco Ltd acquired a new stake in KALA BIO in the 2nd quarter valued at about $62,000. Jane Street Group LLC acquired a new stake in KALA BIO in the 4th quarter valued at about $80,000. Finally, Baker BROS. Advisors LP lifted its stake in KALA BIO by 83.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after purchasing an additional 818,962 shares during the last quarter. 24.61% of the stock is currently 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.