KALA BIO Stock Scheduled to Reverse Split on Monday, May 11th (NASDAQ:KALA)

KALA BIO, Inc. (NASDAQ:KALA)’s stock is going to reverse split before the market opens on Monday, May 11th. The 1-50 reverse split was announced on Thursday, May 7th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 8th.

KALA BIO Stock Performance

KALA traded down $0.03 during trading on Thursday, reaching $0.08. The company’s stock had a trading volume of 8,127,962 shares, compared to its average volume of 6,040,966. The company’s fifty day moving average price is $0.23 and its 200-day moving average price is $0.51. KALA BIO has a 52-week low of $0.08 and a 52-week high of $20.60. The company has a market capitalization of $77.24 million, a price-to-earnings ratio of -0.02 and a beta of -2.23.

KALA BIO (NASDAQ:KALA) last released its earnings results on Wednesday, April 15th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $1.03.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.38.

Institutional Investors Weigh In On KALA BIO

A number of large investors have recently added to or reduced their stakes in KALA. Virtu Financial LLC acquired a new position in KALA BIO during the fourth quarter worth about $48,000. Baker BROS. Advisors LP grew its position 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 valued at $1,003,000 after purchasing an additional 818,962 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of KALA BIO during the 4th quarter worth approximately $80,000. XTX Topco Ltd acquired a new position in shares of KALA BIO during the 2nd quarter worth approximately $62,000. Finally, Geode Capital Management LLC raised its position in shares of KALA BIO by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after purchasing an additional 1,534 shares during the last quarter. 24.61% of the stock is owned by institutional investors and hedge funds.

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.