Kala Pharmaceuticals Inc (NASDAQ:KALA) major shareholder Orbimed Advisors Llc purchased 170,338 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was purchased at an average price of $12.83 per share, with a total value of $2,185,436.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Orbimed Advisors Llc also recently made the following trade(s):
- On Friday, January 12th, Orbimed Advisors Llc acquired 240,484 shares of Kala Pharmaceuticals stock. The shares were bought at an average price of $13.28 per share, with a total value of $3,193,627.52.
Shares of Kala Pharmaceuticals Inc (KALA) traded up $1.75 during trading hours on Friday, hitting $15.60. 386,703 shares of the stock traded hands, compared to its average volume of 457,226. The company has a quick ratio of 11.00, a current ratio of 11.00 and a debt-to-equity ratio of 0.14. Kala Pharmaceuticals Inc has a twelve month low of $11.81 and a twelve month high of $26.75.
Several analysts have recently weighed in on the stock. BidaskClub upgraded shares of Kala Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Co restated a “buy” rating on shares of Kala Pharmaceuticals in a research report on Friday, January 5th. Wedbush restated an “outperform” rating and set a $46.00 price objective on shares of Kala Pharmaceuticals in a research report on Friday, December 22nd. JPMorgan Chase & Co. set a $35.00 price objective on shares of Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, November 19th. Finally, Zacks Investment Research downgraded shares of Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $36.80.
Several institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP acquired a new position in shares of Kala Pharmaceuticals in the 3rd quarter valued at $222,000. Neuberger Berman Group LLC acquired a new position in shares of Kala Pharmaceuticals in the 3rd quarter valued at $1,142,000. Cubist Systematic Strategies LLC acquired a new position in shares of Kala Pharmaceuticals in the 3rd quarter valued at $228,000. Crestline Management LP acquired a new position in shares of Kala Pharmaceuticals in the 3rd quarter valued at $888,000. Finally, Orbimed Advisors LLC acquired a new position in shares of Kala Pharmaceuticals in the 3rd quarter valued at $54,251,000. 62.96% of the stock is currently owned by institutional investors and hedge funds.
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About Kala Pharmaceuticals
Kala Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapeutics through its nanoparticle-based Mucus Penetrating Particles, or MPP, technology. The Company’s initial focus is on the treatment of eye diseases. The Company’s product candidate includes KPI-121 1%, KPI-121 0.25% and MPP rTKI Program.
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