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

Shares of KALA BIO, Inc. (NASDAQ:KALA) are set to reverse split on the morning of 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 closing bell on Friday, May 8th.

KALA BIO Trading Down 27.8%

NASDAQ:KALA traded down $0.03 during mid-day trading on Thursday, reaching $0.08. The company’s stock had a trading volume of 8,127,962 shares, compared to its average volume of 6,040,966. KALA BIO has a 12-month low of $0.08 and a 12-month high of $20.60. The firm’s fifty day moving average price is $0.23 and its two-hundred day moving average price is $0.51. The stock has a market cap of $77.24 million, a P/E ratio of -0.02 and a beta of -2.23.

KALA BIO (NASDAQ:KALA) last issued its earnings results on Wednesday, April 15th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $1.03.

Analyst Ratings Changes

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

Institutional Investors Weigh In On KALA BIO

A number of large investors have recently made changes to their positions in KALA. Virtu Financial LLC bought a new stake in shares of KALA BIO during the 4th quarter valued at about $48,000. XTX Topco Ltd bought a new position in shares of KALA BIO during the 2nd quarter valued at approximately $62,000. Jane Street Group LLC bought a new position in shares of KALA BIO during the 4th quarter valued at approximately $80,000. Geode Capital Management LLC grew its stake in shares of 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. Finally, Baker BROS. Advisors LP grew its stake in shares of KALA BIO by 83.1% during the 4th quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after acquiring an additional 818,962 shares during the period. 24.61% of the stock is currently owned by institutional investors.

KALA BIO Company Profile

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.