Kiora Pharmaceuticals (NASDAQ:KPRX) Trading Down 2.4% – What’s Next?

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX)’s stock price dropped 2.4% during trading on Monday . The company traded as low as $2.42 and last traded at $2.47. 20,474 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 29,731 shares. The stock had previously closed at $2.53.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Kiora Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.00.

Kiora Pharmaceuticals Price Performance

The company has a 50 day moving average price of $2.54 and a 200 day moving average price of $2.26. The firm has a market cap of $11.48 million, a PE ratio of -0.96 and a beta of -0.40.

Kiora Pharmaceuticals (NASDAQ:KPRX) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58).

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KPRX. DRW Securities LLC lifted its position in Kiora Pharmaceuticals by 199.2% in the fourth quarter. DRW Securities LLC now owns 110,282 shares of the company’s stock valued at $217,000 after purchasing an additional 73,417 shares during the period. Alyeska Investment Group L.P. acquired a new position in Kiora Pharmaceuticals during the 4th quarter worth approximately $152,000. Citadel Advisors LLC acquired a new position in Kiora Pharmaceuticals during the 3rd quarter worth approximately $125,000. Renaissance Technologies LLC raised its stake in shares of Kiora Pharmaceuticals by 71.0% during the 4th quarter. Renaissance Technologies LLC now owns 21,200 shares of the company’s stock worth $42,000 after buying an additional 8,800 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Kiora Pharmaceuticals during the 3rd quarter worth approximately $33,000. 76.97% of the stock is currently owned by institutional investors and hedge funds.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals, Inc (NASDAQ: KPRX) is a clinical-stage biotechnology company dedicated to developing innovative therapies for serious eye diseases. The company’s research efforts focus on modulating immune and neurological pathways in the eye to address conditions that currently have limited treatment options. Kiora’s approach combines small-molecule immunomodulators with advanced gene-based and optogenetic technologies to preserve and restore vision.

The company’s lead product candidate, KIO-100 (PP-001), is an intravitreal formulation designed to inhibit key inflammatory pathways implicated in non-infectious uveitis and other autoimmune ocular disorders.