KALA BIO (NASDAQ:KALA) Shares to Reverse Split on Monday, November 16th

Shares of KALA BIO, Inc. (NASDAQ:KALA) are set to reverse split on the morning of Monday, November 16th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, November 15th.

KALA BIO Stock Down 5.8%

KALA BIO stock traded down $0.01 during trading hours on Thursday, hitting $0.16. The stock had a trading volume of 381,307 shares, compared to its average volume of 538,570. The stock has a market cap of $3.11 million, a price-to-earnings ratio of -0.01 and a beta of -2.19. KALA BIO has a one year low of $0.11 and a one year high of $95.50. The business’s 50 day simple moving average is $0.35 and its 200-day simple moving average is $5.81.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research report on Monday, September 21st. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in KALA BIO stock. BlackRock Inc. purchased a new stake in shares of KALA BIO, Inc. (NASDAQ:KALA) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 71,542 shares of the company’s stock, valued at approximately $124,000. BlackRock Inc. owned approximately 0.37% of KALA BIO as of its most recent SEC filing. 24.61% of the stock is owned by institutional investors and hedge funds.

KALA BIO Company Profile

KALA BIO, Inc. is a clinical-stage biopharmaceutical company focused on developing therapies for rare and severe eye diseases. The company is centered on its mesenchymal stem cell secretome platform, which is designed to deliver multiple naturally occurring growth factors and proteins that may support tissue repair and reduce inflammation. KALA BIO’s lead investigational product candidate, KPI-012, is being developed for the treatment of persistent corneal epithelial defects, a condition in which the surface of the cornea does not heal properly.