KALA BIO (NASDAQ:KALA) Stock Price Down 0.9% – What’s Next?

Shares of KALA BIO, Inc. (NASDAQ:KALA) dropped 0.9% during mid-day trading on Friday. The stock traded as low as $0.2860 and last traded at $0.2940. 285,090 shares traded hands during trading, a decline of 92% from the average session volume of 3,782,051 shares. The stock had previously closed at $0.2966.

Wall Street Analyst Weigh In

A number of analysts have recently commented on KALA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research report on Monday, September 21st. Wall Street Zen raised KALA BIO from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, KALA BIO presently has a consensus rating of “Sell”.

KALA BIO Trading Down 0.9%

The business’s fifty day moving average price is $0.62 and its 200 day moving average price is $2.97. The firm has a market capitalization of $5.69 million, a price-to-earnings ratio of -0.01 and a beta of -2.40.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($21.32) EPS for the quarter, missing the consensus estimate of ($6.00) by ($15.32).

Institutional Investors Weigh In On KALA BIO

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of KALA BIO during the second quarter worth about $124,000. Renaissance Technologies LLC raised its stake in KALA BIO by 920.7% during the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock valued at $72,000 after acquiring an additional 376,612 shares during the last quarter. Finally, Baker BROS. Advisors LP raised its stake in 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 acquiring an additional 818,962 shares during the last quarter. Institutional investors and hedge funds own 24.61% of the company’s stock.

About KALA BIO

KALA BIO, Inc, formerly known as Kala Pharmaceuticals, is a clinical-stage biotechnology company focused on developing treatments for severe diseases affecting the eye. The company’s research has centered on therapies designed to address conditions for which available treatment options may be limited or inadequate.

KALA BIO’s lead investigational product has been KPI-012, an ophthalmic biologic being studied for rare corneal conditions, including persistent corneal epithelial defects. The company has also developed therapies using its proprietary mucus-penetrating particle technology, which is intended to improve the delivery of medicines to ocular tissues.

Historically, the company developed and commercialized EYSUVIS, a corticosteroid eye drop approved in the United States for the short-term treatment of dry-eye disease, and XIPERE, an injectable treatment for macular edema associated with uveitis.