KALA BIO (NASDAQ:KALA) Upgraded by Wall Street Zen to Hold Rating

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.

KALA BIO (NASDAQ:KALA - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Monday.

A number of other brokerages also recently issued reports on KALA. Oppenheimer reiterated an "outperform" rating and issued a $15.00 price objective on shares of KALA BIO in a research report on Monday, June 2nd. HC Wainwright cut their price objective 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 began 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 on the stock.

KALA BIO Stock Performance

NASDAQ:KALA opened at $8.09 on Monday. KALA BIO has a 52-week low of $2.92 and a 52-week high of $11.20. The firm has a market cap of $52.18 million, a price-to-earnings ratio of -0.98 and a beta of -1.88. The company has a debt-to-equity ratio of 3.19, a quick ratio of 1.99 and a current ratio of 1.99. The business's fifty day moving average is $4.80 and its 200 day moving average is $5.62.

Insiders Place Their Bets

In other KALA BIO 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 value of $53,040.27. Following the completion of the sale, the director directly owned 258,433 shares of the company's stock, valued at $1,036,316.33. The trade was a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 41,335 shares of company stock worth $162,876 in the last quarter. Company insiders own 8.32% of the company's stock.

Institutional Investors Weigh In On KALA BIO

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of KALA BIO by 28.4% during the fourth quarter. Geode Capital Management LLC now owns 47,642 shares of the company's stock valued at $331,000 after acquiring an additional 10,526 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in KALA BIO by 10.0% during the 4th 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 purchasing an additional 16,271 shares during the period. Baker BROS. Advisors LP raised its holdings in KALA BIO by 34.8% in the 4th quarter. Baker BROS. Advisors LP now owns 1,201,894 shares of the company's stock worth $8,341,000 after purchasing an additional 310,559 shares in the last quarter. Silverarc Capital Management LLC purchased a new stake in shares of KALA BIO in the 4th quarter worth about $1,604,000. Finally, SR One Capital Management LP boosted its stake in shares of KALA BIO by 35.0% during the 4th quarter. SR One Capital Management LP now owns 598,940 shares of the company's stock valued at $4,157,000 after purchasing an additional 155,279 shares in the last quarter. Hedge funds and other institutional investors own 24.61% of the company's stock.

About KALA BIO

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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