KALA BIO (NASDAQ:KALA) Downgraded to Sell Rating by Wall Street Zen

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

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

KALA BIO Stock Down 13.0%

Shares of KALA BIO stock traded down $0.17 during trading on Friday, reaching $1.18. 318,413 shares of the company were exchanged, compared to its average volume of 178,164. KALA BIO has a twelve month low of $1.16 and a twelve month high of $1,030.00. The business has a 50-day moving average price of $2.62 and a 200-day moving average price of $13.44. The firm has a market capitalization of $21.84 million, a price-to-earnings ratio of -0.01 and a beta of -2.35.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP raised its position in shares of KALA BIO by 83.1% during the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after purchasing an additional 818,962 shares during the period. Renaissance Technologies LLC grew its position 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 purchasing an additional 376,612 shares during the period. Woodline Partners LP bought a new stake in KALA BIO during the 1st quarter worth approximately $1,483,000. Jane Street Group LLC bought a new stake in KALA BIO during the 4th quarter worth approximately $80,000. Finally, Virtu Financial LLC acquired a new stake in KALA BIO during the 4th quarter worth approximately $48,000. 24.61% of the stock is owned by institutional investors and hedge funds.

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.