KALA BIO (NASDAQ:KALA) Cut to Neutral at Mizuho

Mizuho downgraded shares of KALA BIO (NASDAQ:KALA) from an outperform rating to a neutral rating in a report released on Tuesday, MarketBeat Ratings reports.

Several other equities research analysts have also recently commented on KALA. Wall Street Zen cut KALA BIO from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. HC Wainwright reissued a “neutral” rating on shares of KALA BIO in a report on Monday. Oppenheimer increased their target price on KALA BIO from $15.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 11th. Lifesci Capital downgraded KALA BIO from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, LADENBURG THALM/SH SH downgraded KALA BIO from a “buy” rating to a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.38.

KALA BIO Trading Up 13.2%

KALA BIO stock opened at $1.54 on Tuesday. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.10 and a quick ratio of 2.10. KALA BIO has a one year low of $1.10 and a one year high of $20.60. The stock has a market capitalization of $10.81 million, a PE ratio of -0.23 and a beta of -2.10. The business’s fifty day moving average is $11.03 and its 200 day moving average is $6.77.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Friday, August 8th. The company reported ($1.71) EPS for the quarter, beating the consensus estimate of ($1.82) by $0.11. On average, sell-side analysts predict that KALA BIO will post -10.84 EPS for the current year.

Insider Activity at KALA BIO

In other news, major shareholder Bros. Advisors Lp Baker sold 513,607 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1.38, for a total value of $708,777.66. Following the transaction, the insider owned 46,480 shares of the company’s stock, valued at $64,142.40. This trade represents a 91.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. ADAR1 Capital Management LLC raised its stake in shares of KALA BIO by 35.7% in the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock worth $1,713,000 after buying an additional 78,582 shares during the period. Readystate Asset Management LP bought a new position in shares of KALA BIO in the first quarter worth about $243,000. AIGH Capital Management LLC raised its stake in KALA BIO by 61.9% during the 1st quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock valued at $1,125,000 after purchasing an additional 75,048 shares during the period. Woodline Partners LP bought a new stake in KALA BIO during the 1st quarter valued at approximately $1,483,000. Finally, Geode Capital Management LLC raised its stake in 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 purchasing an additional 1,534 shares during the period. Institutional investors own 24.61% of the company’s stock.

KALA BIO Company Profile

KALA BIO, Inc, a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of innovative therapies for rare and severe eye diseases in the United States. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects.