KALA BIO (NASDAQ:KALA) Stock Passes Below Fifty Day Moving Average – Time to Sell?

KALA BIO, Inc. (NASDAQ:KALA) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.93 and traded as low as $0.6301. KALA BIO shares last traded at $0.6734, with a volume of 36,636 shares changing hands.

Analysts Set New Price Targets

Several brokerages have commented on KALA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a report on Wednesday, June 24th. Wall Street Zen cut KALA BIO from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1,158.33.

KALA BIO Trading Up 2.0%

The stock has a market cap of $13.02 million, a price-to-earnings ratio of -0.01 and a beta of -2.35. The stock’s 50-day moving average price is $1.93 and its 200-day moving average price is $10.61.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($8.50) by $8.36.

Institutional Trading of KALA BIO

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in shares of KALA BIO by 920.7% in the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after acquiring an additional 376,612 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of KALA BIO in the 4th quarter valued at about $48,000. Baker BROS. Advisors LP boosted its position in shares of KALA BIO by 83.1% during the 4th 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. Jane Street Group LLC acquired a new stake in KALA BIO during the fourth quarter worth approximately $80,000. Finally, XTX Topco Ltd bought a new stake in KALA BIO in the second quarter worth approximately $62,000. 24.61% of the stock is currently owned by institutional investors and hedge funds.

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.