KALA BIO Stock to Reverse Split on Monday, May 11th (NASDAQ:KALA)

Shares of KALA BIO, Inc. (NASDAQ:KALA) are going to reverse split before the market opens on Monday, May 11th. The 1-50 reverse split was announced on Thursday, May 7th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 8th.

KALA BIO Trading Down 27.8%

Shares of KALA stock traded down $0.03 during trading on Thursday, hitting $0.08. The company’s stock had a trading volume of 8,127,962 shares, compared to its average volume of 6,040,966. The company has a market cap of $77.24 million, a PE ratio of -0.02 and a beta of -2.23. The business has a fifty day moving average of $0.23 and a 200-day moving average of $0.51. KALA BIO has a 52 week low of $0.08 and a 52 week high of $20.60.

KALA BIO (NASDAQ:KALA) last released its earnings results on Wednesday, April 15th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $1.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, KALA BIO presently has an average rating of “Hold” and an average target price of $20.38.

Hedge Funds Weigh In On KALA BIO

Large investors have recently made changes to their positions in the stock. Woodline Partners LP bought a new position in KALA BIO in the 1st quarter worth about $1,483,000. Geode Capital Management LLC increased 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 worth $268,000 after acquiring an additional 1,534 shares during the last quarter. XTX Topco Ltd bought a new position in KALA BIO in the 2nd quarter worth about $62,000. Jane Street Group LLC bought a new position in KALA BIO in the 4th quarter worth about $80,000. Finally, Baker BROS. Advisors LP increased 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 worth $1,003,000 after acquiring an additional 818,962 shares during the last quarter. 24.61% of the stock is owned by institutional investors.

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.