KALA BIO (NASDAQ:KALA) Stock Rating Upgraded by Wall Street Zen

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

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1,158.33.

KALA BIO Stock Performance

Shares of NASDAQ KALA opened at $0.75 on Friday. The company has a market cap of $14.46 million, a PE ratio of -0.01 and a beta of -2.26. The business has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $9.07. KALA BIO has a fifty-two week low of $0.59 and a fifty-two week high of $1,030.00.

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

Institutional Trading of KALA BIO

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in KALA BIO during the fourth quarter valued at $48,000. XTX Topco Ltd acquired a new position in shares of KALA BIO in the second quarter worth about $62,000. Renaissance Technologies LLC raised its position in shares of KALA BIO by 920.7% in the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after acquiring an additional 376,612 shares during the period. Jane Street Group LLC purchased a new stake in shares of KALA BIO during the 4th quarter worth about $80,000. Finally, BlackRock Inc. purchased a new stake in shares of KALA BIO during the 2nd quarter worth about $124,000. 24.61% of the stock is owned by hedge funds and other institutional investors.

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.