KALA BIO (NASDAQ:KALA) Cut to Sell at Wall Street Zen

KALA BIO (NASDAQ:KALA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. One research 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, the stock presently has a consensus rating of “Hold” and an average target price of $1,158.33.

KALA BIO Trading Down 13.0%

Shares of KALA stock traded down $0.17 on Friday, hitting $1.18. 318,413 shares of the stock were exchanged, compared to its average volume of 178,164. The firm has a market capitalization of $21.84 million, a P/E ratio of -0.01 and a beta of -2.35. The business has a 50-day moving average of $2.62 and a 200 day moving average of $13.44. KALA BIO has a fifty-two week low of $1.16 and a fifty-two week high of $1,030.00.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($8.50) by $8.36.

Institutional Trading of KALA BIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in KALA BIO during the fourth quarter valued at approximately $48,000. XTX Topco Ltd bought a new stake in shares of KALA BIO during the 2nd quarter worth approximately $62,000. Renaissance Technologies LLC boosted its holdings 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 valued at $72,000 after buying an additional 376,612 shares during the last quarter. Jane Street Group LLC bought a new position in shares of KALA BIO in the fourth quarter valued at $80,000. Finally, Geode Capital Management LLC grew its stake in shares of KALA BIO by 2.8% in 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 in the last quarter. Institutional investors own 24.61% of the company’s stock.

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.