KALA BIO (NASDAQ:KALA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of KALA BIO (NASDAQ:KALA) from a sell rating to a hold rating in a report released on Monday morning.

KALA has been the topic of a number of other reports. HC Wainwright decreased their price target on KALA BIO from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. LADENBURG THALM/SH SH assumed coverage on KALA BIO in a research note on Friday, July 11th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $15.00 price target on shares of KALA BIO in a research note on Monday, June 2nd.

KALA BIO Stock Down 15.0%

KALA opened at $7.14 on Monday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 3.19. The firm has a market cap of $46.05 million, a P/E ratio of -0.87 and a beta of -1.88. KALA BIO has a 52 week low of $2.92 and a 52 week high of $11.20. The business’s fifty day simple moving average is $5.04 and its 200 day simple moving average is $5.66.

Insider Transactions at KALA BIO

In other KALA BIO news, Director Mark T. Iwicki sold 13,227 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $4.01, for a total value of $53,040.27. Following the sale, the director directly owned 258,433 shares of the company’s stock, valued at approximately $1,036,316.33. This trade represents a 4.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 41,335 shares of company stock valued at $162,876. 8.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KALA BIO

Several hedge funds and other institutional investors have recently modified their holdings of KALA. Geode Capital Management LLC lifted its position in KALA BIO by 28.4% during the 4th quarter. Geode Capital Management LLC now owns 47,642 shares of the company’s stock worth $331,000 after acquiring an additional 10,526 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in KALA BIO by 10.0% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,934 shares of the company’s stock worth $1,242,000 after acquiring an additional 16,271 shares in the last quarter. Readystate Asset Management LP acquired a new position in KALA BIO during the 1st quarter worth approximately $243,000. AIGH Capital Management LLC lifted its position in KALA BIO by 61.9% during the 1st quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock worth $1,125,000 after acquiring an additional 75,048 shares in the last quarter. Finally, ADAR1 Capital Management LLC lifted its position 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 in the last quarter. 24.61% of the stock is owned by institutional investors and hedge funds.

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.