Bros. Advisors Lp Baker Sells 216,801 Shares of KALA BIO (NASDAQ:KALA) Stock

KALA BIO, Inc. (NASDAQ:KALA) major shareholder Bros. Advisors Lp Baker sold 216,801 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $1.60, for a total value of $346,881.60. Following the completion of the sale, the insider directly owned 97,120 shares in the company, valued at approximately $155,392. This represents a 69.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Wednesday, October 1st, Bros. Advisors Lp Baker sold 513,607 shares of KALA BIO stock. The shares were sold at an average price of $1.38, for a total value of $708,777.66.

KALA BIO Stock Performance

KALA opened at $1.54 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 3.19. The stock’s 50 day moving average price is $10.90 and its two-hundred day moving average price is $6.73. The firm has a market capitalization of $10.81 million, a P/E ratio of -0.23 and a beta of -2.10. KALA BIO, Inc. has a 12-month low of $1.10 and a 12-month high of $20.60.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings results on Friday, August 8th. The company reported ($1.71) EPS for the quarter, topping analysts’ consensus estimates of ($1.82) by $0.11. On average, equities analysts forecast that KALA BIO, Inc. will post -10.84 earnings per share for the current year.

Wall Street Analyst Weigh In

KALA has been the topic of several research reports. Lifesci Capital downgraded shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Mizuho set a $1.50 price target on KALA BIO in a research note on Tuesday. Wall Street Zen downgraded KALA BIO from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Oppenheimer lifted their price objective on KALA BIO from $15.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Finally, HC Wainwright restated a “neutral” rating on shares of KALA BIO in a research note on Monday, September 29th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.38.

Hedge Funds Weigh In On KALA BIO

Several hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in KALA BIO in the second quarter valued at $62,000. Readystate Asset Management LP acquired a new stake in shares of KALA BIO in the 1st quarter valued at $243,000. Geode Capital Management LLC grew 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 worth $268,000 after purchasing an additional 1,534 shares during the last quarter. AIGH Capital Management LLC grew its holdings in shares of KALA BIO by 61.9% in the 1st quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock worth $1,125,000 after purchasing an additional 75,048 shares during the last quarter. Finally, Woodline Partners LP bought a new position in KALA BIO during the 1st quarter valued at about $1,483,000. Institutional investors own 24.61% of the company’s stock.

About KALA BIO

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.