KALA BIO (NASDAQ:KALA) Issues Quarterly Earnings Results, Misses Expectations By $15.32 EPS

KALA BIO (NASDAQ:KALA) released its quarterly earnings data on Wednesday. The company reported ($21.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.00) by ($15.32), FiscalAI reports.

KALA BIO Trading Down 6.7%

Shares of NASDAQ:KALA opened at $0.84 on Friday. The company has a market capitalization of $16.25 million, a price-to-earnings ratio of -0.03 and a beta of -2.26. The business has a 50-day moving average price of $1.45 and a 200 day moving average price of $7.29. KALA BIO has a 12-month low of $0.59 and a 12-month high of $1,030.00.

Institutional Investors Weigh In On KALA BIO

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of KALA BIO in the fourth quarter valued at approximately $80,000. Geode Capital Management LLC raised its holdings in shares of KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after purchasing an additional 1,534 shares in the last quarter. Woodline Partners LP purchased a new stake in KALA BIO during the 1st quarter worth about $1,483,000. XTX Topco Ltd purchased a new stake in KALA BIO during the second quarter worth approximately $62,000. Finally, Virtu Financial LLC purchased a new stake in shares of KALA BIO during the 4th quarter worth approximately $48,000. 24.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on KALA shares. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a report on Wednesday, June 24th. Wall Street Zen raised shares of KALA BIO from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One investment 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $1,158.33.

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.