KALA BIO (NASDAQ:KALA) Posts Quarterly Earnings Results, Beats Estimates By $8.36 EPS

KALA BIO (NASDAQ:KALA) announced its quarterly earnings results on Friday. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($8.50) by $8.36, FiscalAI reports.

KALA BIO Stock Performance

KALA stock traded down $0.16 during trading on Friday, reaching $2.93. 50,803 shares of the company traded hands, compared to its average volume of 90,042. KALA BIO has a 12 month low of $2.85 and a 12 month high of $1,030.00. The business has a 50 day simple moving average of $9.05 and a 200 day simple moving average of $23.47. The company has a market capitalization of $54.47 million, a price-to-earnings ratio of -0.03 and a beta of -2.23.

Institutional Investors Weigh In On KALA BIO

A number of institutional investors have recently added to or reduced their stakes in KALA. Woodline Partners LP bought a new stake in KALA BIO during the first quarter valued at about $1,483,000. Geode Capital Management LLC boosted its holdings in KALA BIO by 2.8% in the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after acquiring an additional 1,534 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of KALA BIO in the second quarter worth about $62,000. Jane Street Group LLC purchased a new position in shares of KALA BIO in the fourth quarter worth about $80,000. Finally, Baker BROS. Advisors LP raised 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 worth $1,003,000 after purchasing an additional 818,962 shares during the last quarter. Institutional investors own 24.61% of the company’s stock.

Analyst Upgrades and Downgrades

KALA has been the topic of several research reports. Wall Street Zen upgraded KALA BIO to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus 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.