KALA BIO (NASDAQ:KALA) Stock Falls 0.9% – What’s Next?

KALA BIO, Inc. (NASDAQ:KALA)’s share price fell 0.9% during trading on Friday. The stock traded as low as $0.2860 and last traded at $0.2940. Approximately 285,090 shares traded hands during trading, a decline of 92% from the average daily volume of 3,782,051 shares. The stock had previously closed at $0.2966.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KALA shares. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a report on Monday, September 21st. One analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of “Sell”.

KALA BIO Stock Down 0.9%

The stock has a fifty day moving average of $0.62 and a two-hundred day moving average of $2.97. The stock has a market cap of $5.69 million, a price-to-earnings ratio of -0.01 and a beta of -2.40.

KALA BIO (NASDAQ:KALA) last released its earnings results on Wednesday, August 19th. The company reported ($21.32) EPS for the quarter, missing analysts’ consensus estimates of ($6.00) by ($15.32).

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of KALA BIO during the 2nd quarter worth approximately $124,000. Renaissance Technologies LLC raised its holdings in KALA BIO by 920.7% during the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after purchasing an additional 376,612 shares during the last quarter. Finally, Baker BROS. Advisors LP boosted its position in KALA BIO by 83.1% during the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after purchasing an additional 818,962 shares in the last quarter. 24.61% of the stock is owned by hedge funds and other institutional investors.

About KALA BIO

KALA BIO, Inc, formerly known as Kala Pharmaceuticals, is a clinical-stage biotechnology company focused on developing treatments for severe diseases affecting the eye. The company’s research has centered on therapies designed to address conditions for which available treatment options may be limited or inadequate.

KALA BIO’s lead investigational product has been KPI-012, an ophthalmic biologic being studied for rare corneal conditions, including persistent corneal epithelial defects. The company has also developed therapies using its proprietary mucus-penetrating particle technology, which is intended to improve the delivery of medicines to ocular tissues.

Historically, the company developed and commercialized EYSUVIS, a corticosteroid eye drop approved in the United States for the short-term treatment of dry-eye disease, and XIPERE, an injectable treatment for macular edema associated with uveitis.