KALA BIO (NASDAQ:KALA) Issues Earnings Results

KALA BIO (NASDAQ:KALA) posted its quarterly earnings results on Friday. The company reported ($0.14) earnings per share (EPS) for the quarter, FiscalAI reports.

KALA BIO Stock Performance

Shares of KALA BIO stock traded down $0.16 on Friday, hitting $2.93. The company’s stock had a trading volume of 50,803 shares, compared to its average volume of 90,042. KALA BIO has a 1 year low of $2.85 and a 1 year high of $1,030.00. The firm has a fifty day moving average price of $9.05 and a 200-day moving average price of $23.47. The company has a market capitalization of $54.47 million, a price-to-earnings ratio of -0.02 and a beta of -2.23.

Hedge Funds Weigh In On KALA BIO

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake 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 in the last quarter. Virtu Financial LLC purchased a new stake in KALA BIO in the 4th quarter worth $48,000. Baker BROS. Advisors LP increased its holdings in KALA BIO by 83.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after acquiring an additional 818,962 shares in the last quarter. Jane Street Group LLC purchased a new stake in KALA BIO in the 4th quarter worth $80,000. Finally, XTX Topco Ltd purchased a new stake in KALA BIO in the 2nd quarter worth $62,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

Analysts Set New Price Targets

KALA has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research report on Friday, March 27th. Wall Street Zen upgraded KALA BIO to a “sell” rating in a research note on Saturday. One equities 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.com, the stock presently has an average rating of “Hold” and an average target price of $1,018.75.

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.