KALA BIO (NASDAQ:KALA) Trading Up 5.9% - Time to Buy?

Key Points

• KALA BIO, Inc. (NASDAQ:KALA) saw a stock price increase of 5.9% on Monday, with trading volume spiking to approximately 404,474 shares, significantly up from its average of 135,899 shares.
• Several analysts have recently issued ratings on KALA, with a consensus rating of "Buy" and a price target of $13.00, while some firms set individual targets between $12.00 and $15.00.
• The company reported a quarterly earnings per share of ($1.71), outperforming the expectation of ($1.82), and forecasts for the current fiscal year indicate an expected EPS of -10.84.

KALA BIO, Inc. (NASDAQ:KALA - Get Free Report) rose 5.9% on Monday . The company traded as high as $11.68 and last traded at $11.22. Approximately 404,474 shares traded hands during mid-day trading, an increase of 198% from the average daily volume of 135,899 shares. The stock had previously closed at $10.59.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KALA. LADENBURG THALM/SH SH started coverage on shares of KALA BIO in a research note on Friday, July 11th. They issued a "buy" rating and a $12.00 target price for the company. Oppenheimer restated an "outperform" rating and set a $15.00 price objective on shares of KALA BIO in a report on Monday, June 2nd. Wall Street Zen downgraded KALA BIO from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, HC Wainwright lowered their price target on KALA BIO from $15.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, KALA BIO currently has a consensus rating of "Buy" and a consensus price target of $13.00.

KALA BIO Stock Up 5.9%

The firm's 50 day moving average price is $7.03 and its two-hundred day moving average price is $5.60. The firm has a market capitalization of $78.76 million, a PE ratio of -1.65 and a beta of -1.82. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 3.19.

KALA BIO (NASDAQ:KALA - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($1.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.82) by $0.11. As a group, research analysts forecast that KALA BIO, Inc. will post -10.84 EPS for the current fiscal year.

Insider Transactions at KALA BIO

In other news, Director Mark T. Iwicki sold 13,227 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $4.01, for a total transaction of $53,040.27. Following the completion of the transaction, the director owned 258,433 shares of the company's stock, valued at approximately $1,036,316.33. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 41,335 shares of company stock worth $162,876. Insiders own 8.32% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KALA. XTX Topco Ltd bought a new stake in KALA BIO during the second quarter worth approximately $62,000. Geode Capital Management LLC boosted its stake in KALA BIO by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company's stock valued at $268,000 after purchasing an additional 1,534 shares in the last quarter. AIGH Capital Management LLC increased its position in shares of KALA BIO by 52.8% during the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company's stock valued at $1,428,000 after purchasing an additional 103,650 shares during the period. Woodline Partners LP bought a new stake in shares of KALA BIO in the 1st quarter worth $1,483,000. Finally, ADAR1 Capital Management LLC lifted its holdings in shares of KALA BIO by 35.7% in the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company's stock valued at $1,713,000 after buying an additional 78,582 shares during the period. 24.61% of the stock is owned by institutional investors and hedge funds.

KALA BIO Company Profile

KALA BIO, Inc, a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of innovative therapies for rare and severe eye diseases in the United States. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects.

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