KALA BIO (NASDAQ:KALA) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

KALA BIO, Inc. (NASDAQ:KALA) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.70 and traded as low as $0.72. KALA BIO shares last traded at $0.7478, with a volume of 43,147 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KALA shares. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, KALA BIO currently has a consensus rating of “Hold” and a consensus target price of $1,158.33.

KALA BIO Stock Up 1.5%

The business has a fifty day moving average of $1.70 and a 200 day moving average of $9.24. The company has a market cap of $14.46 million, a P/E ratio of -0.01 and a beta of -2.26.

KALA BIO (NASDAQ:KALA) last posted its earnings results on Friday, May 15th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($8.50) by $8.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KALA. XTX Topco Ltd purchased a new stake in shares of KALA BIO in the 2nd quarter worth about $62,000. Geode Capital Management LLC lifted its position 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 during the period. BlackRock Inc. bought a new stake in KALA BIO during the second quarter worth about $124,000. Virtu Financial LLC purchased a new stake in KALA BIO in the fourth quarter worth about $48,000. Finally, Jane Street Group LLC purchased a new stake in KALA BIO in the fourth quarter worth about $80,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

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.