KALA BIO (NASDAQ:KALA) Trading Down 5.5% – What’s Next?

Shares of KALA BIO, Inc. (NASDAQ:KALA) dropped 5.5% during mid-day trading on Monday . The stock traded as low as $0.5353 and last traded at $0.5407. 182,409 shares changed hands during trading, a decline of 75% from the average session volume of 733,517 shares. The stock had previously closed at $0.5724.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen raised KALA BIO from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $912.50.

KALA BIO Trading Down 5.5%

The company’s fifty day moving average is $0.79 and its two-hundred day moving average is $4.88. The stock has a market cap of $10.46 million, a price-to-earnings ratio of -0.02 and a beta of -2.28.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($21.32) EPS for the quarter, missing analysts’ consensus estimates of ($6.00) by ($15.32).

Hedge Funds Weigh In On KALA BIO

A number of hedge funds and other institutional investors have recently bought and sold shares of KALA. BlackRock Inc. purchased a new stake in KALA BIO during the second quarter worth about $124,000. Renaissance Technologies LLC boosted its stake in shares of KALA BIO by 920.7% in the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock valued at $72,000 after purchasing an additional 376,612 shares during the period. Finally, Baker BROS. Advisors LP grew its holdings in shares of KALA BIO by 83.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after purchasing an additional 818,962 shares in the last quarter. 24.61% of the stock is currently owned by hedge funds and other 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.