KALA BIO (NASDAQ:KALA) Announces Earnings Results

KALA BIO (NASDAQ:KALA) issued its quarterly earnings results on Wednesday. The company reported $0.86 EPS for the quarter, Zacks reports.

KALA BIO Stock Down 12.0%

Shares of KALA BIO stock traded down $0.03 on Wednesday, hitting $0.20. The stock had a trading volume of 3,346,512 shares, compared to its average volume of 6,513,633. KALA BIO has a one year low of $0.15 and a one year high of $20.60. The stock has a market cap of $181.17 million, a price-to-earnings ratio of -0.03 and a beta of -1.98. The stock’s 50-day simple moving average is $0.30 and its two-hundred day simple moving average is $0.65.

Institutional Trading of KALA BIO

Large investors have recently added to or reduced their stakes in the stock. Woodline Partners LP bought a new stake in KALA BIO in the first quarter valued at $1,483,000. Geode Capital Management LLC lifted its position in KALA BIO by 2.8% during the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after buying an additional 1,534 shares during the period. Jane Street Group LLC purchased a new position in KALA BIO during the fourth quarter valued at $80,000. XTX Topco Ltd purchased a new position in KALA BIO during the second quarter valued at $62,000. Finally, Virtu Financial LLC bought a new stake in shares of KALA BIO in the 4th quarter worth approximately $48,000. Institutional investors own 24.61% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.38.

KALA BIO Company Profile

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.