KALA BIO (NASDAQ:KALA) Announces Earnings Results

KALA BIO (NASDAQ:KALA) announced its quarterly earnings data on Friday. The company reported ($0.14) earnings per share for the quarter, FiscalAI reports.

KALA BIO Trading Down 5.2%

NASDAQ:KALA traded down $0.16 on Friday, hitting $2.93. 50,803 shares of the stock were exchanged, compared to its average volume of 90,042. The stock has a market cap of $54.47 million, a PE ratio of -0.02 and a beta of -2.23. The stock has a fifty day moving average of $9.05 and a 200-day moving average of $23.47. KALA BIO has a fifty-two week low of $2.85 and a fifty-two week high of $1,030.00.

Institutional Investors Weigh In On KALA BIO

A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew 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 buying an additional 376,612 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of KALA BIO in the fourth quarter valued at about $48,000. Baker BROS. Advisors LP grew its stake 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 buying an additional 818,962 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of KALA BIO in the fourth quarter valued at about $80,000. Finally, XTX Topco Ltd acquired a new stake in shares of KALA BIO in the second quarter valued at about $62,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, KALA BIO presently has an average rating of “Hold” and a consensus target price of $1,018.75.

About KALA BIO

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.