KALA BIO (NASDAQ:KALA) Upgraded at Wall Street Zen

Key Points

• KALA BIO has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a positive shift in outlook for the company.
• The stock has experienced a significant rise, with a 400% increase in the past month, indicating heightened investor interest.
• Institutional investors are actively increasing their stakes in KALA BIO, with notable raises from Geode Capital Management and Baker BROS. Advisors in the last quarter.

Wall Street Zen upgraded shares of KALA BIO (NASDAQ:KALA - Free Report) from a sell rating to a hold rating in a research report report published on Monday.

Several other equities analysts have also commented on the stock. Oppenheimer reiterated an "outperform" rating and issued a $15.00 price target on shares of KALA BIO in a research note on Monday, June 2nd. 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. Finally, LADENBURG THALM/SH SH started coverage on KALA BIO in a report on Friday, July 11th. They issued a "buy" rating and a $12.00 price target for the company.

KALA BIO Stock Up 2.2%

NASDAQ:KALA traded up $0.16 during mid-day trading on Monday, hitting $7.30. The stock had a trading volume of 71,748 shares, compared to its average volume of 85,852. The stock has a 50-day simple moving average of $5.04 and a two-hundred day simple moving average of $5.66. The company has a market capitalization of $47.09 million, a PE ratio of -0.89 and a beta of -1.88. KALA BIO has a twelve month low of $2.92 and a twelve month high of $11.20. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 3.19.

Insider Activity

In other KALA BIO news, Director Mark T. Iwicki sold 13,227 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $4.01, for a total value of $53,040.27. Following the completion of the sale, the director directly owned 258,433 shares in the company, valued at $1,036,316.33. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 41,335 shares of company stock valued at $162,876 in the last ninety days. 8.32% of the stock is owned by corporate insiders.

Institutional Trading of KALA BIO

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of KALA BIO by 28.4% in the fourth quarter. Geode Capital Management LLC now owns 47,642 shares of the company's stock valued at $331,000 after buying an additional 10,526 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of KALA BIO by 10.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,934 shares of the company's stock valued at $1,242,000 after buying an additional 16,271 shares during the last quarter. Readystate Asset Management LP acquired a new stake in shares of KALA BIO in the first quarter valued at approximately $243,000. AIGH Capital Management LLC lifted its position in shares of KALA BIO by 61.9% in the first quarter. AIGH Capital Management LLC now owns 196,350 shares of the company's stock valued at $1,125,000 after buying an additional 75,048 shares during the last quarter. Finally, ADAR1 Capital Management LLC lifted its holdings in KALA BIO by 35.7% during the 1st quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company's stock worth $1,713,000 after purchasing an additional 78,582 shares during the last quarter. 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.