KALA BIO (NASDAQ:KALA) Issues Earnings Results, Misses Estimates By $15.32 EPS

KALA BIO (NASDAQ:KALA) released its quarterly earnings results on Wednesday. The company reported ($21.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.00) by ($15.32), FiscalAI reports.

KALA BIO Price Performance

Shares of KALA stock traded up $0.00 during midday trading on Wednesday, hitting $0.90. The company had a trading volume of 25,097 shares, compared to its average volume of 125,191. The company’s 50 day simple moving average is $1.51 and its 200 day simple moving average is $7.65. KALA BIO has a 52-week low of $0.59 and a 52-week high of $1,030.00. The stock has a market cap of $17.41 million, a price-to-earnings ratio of -0.01 and a beta of -2.26.

Institutional Investors Weigh In On KALA BIO

Several large investors have recently modified their holdings of the stock. Woodline Partners LP acquired a new stake in shares of KALA BIO during the first quarter worth $1,483,000. Jane Street Group LLC acquired a new position in KALA BIO in the 4th quarter valued at $80,000. Virtu Financial LLC purchased a new position in KALA BIO during the 4th quarter worth $48,000. Geode Capital Management LLC raised its position in 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 buying an additional 1,534 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of KALA BIO in the 2nd quarter worth $62,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on KALA. Wall Street Zen raised KALA BIO from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. One equities research 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, KALA BIO currently has an average rating of “Hold” and an average target price of $1,158.33.

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.