KALA BIO (NASDAQ:KALA) Major Shareholder Sells $708,777.66 in Stock

KALA BIO, Inc. (NASDAQ:KALA) major shareholder Bros. Advisors Lp Baker sold 513,607 shares of KALA BIO stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $1.38, for a total value of $708,777.66. Following the completion of the transaction, the insider owned 46,480 shares of the company’s stock, valued at approximately $64,142.40. The trade was a 91.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Tuesday, September 30th, Bros. Advisors Lp Baker sold 216,801 shares of KALA BIO stock. The stock was sold at an average price of $1.60, for a total value of $346,881.60.

KALA BIO Stock Performance

Shares of KALA opened at $1.54 on Friday. KALA BIO, Inc. has a 1 year low of $1.10 and a 1 year high of $20.60. The company has a market cap of $10.81 million, a price-to-earnings ratio of -0.23 and a beta of -2.10. The company has a debt-to-equity ratio of 3.19, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a fifty day moving average of $10.90 and a 200-day moving average of $6.73.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Friday, August 8th. The company reported ($1.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.82) by $0.11. As a group, equities analysts anticipate that KALA BIO, Inc. will post -10.84 earnings per share for the current year.

Hedge Funds Weigh In On KALA BIO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of KALA BIO in the second quarter valued at $62,000. Readystate Asset Management LP acquired a new position in KALA BIO during the first quarter valued at $243,000. Geode Capital Management LLC lifted its stake in KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after acquiring an additional 1,534 shares in the last quarter. AIGH Capital Management LLC boosted its position in KALA BIO by 61.9% during the 1st quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock worth $1,125,000 after acquiring an additional 75,048 shares during the period. Finally, Woodline Partners LP acquired a new stake in KALA BIO during the 1st quarter worth about $1,483,000. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KALA. Lifesci Capital downgraded KALA BIO from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Mizuho set a $1.50 target price on KALA BIO in a research note on Tuesday. Wall Street Zen cut KALA BIO from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. HC Wainwright reissued a “neutral” rating on shares of KALA BIO in a report on Monday, September 29th. Finally, Oppenheimer upped their price objective on shares of KALA BIO from $15.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.38.

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.