KALA BIO (NASDAQ:KALA) Shares Cross Below 50 Day Moving Average – Here’s What Happened

KALA BIO, Inc. (NASDAQ:KALAGet Free Report) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.93 and traded as low as $0.6301. KALA BIO shares last traded at $0.6734, with a volume of 36,636 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KALA shares. Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research note on Wednesday, June 24th. Wall Street Zen cut shares of KALA BIO from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $1,158.33.

View Our Latest Stock Analysis on KALA

KALA BIO Stock Performance

The company has a market cap of $13.02 million, a price-to-earnings ratio of -0.01 and a beta of -2.35. The company has a fifty day moving average of $1.93 and a two-hundred day moving average of $10.61.

KALA BIO (NASDAQ:KALAGet Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($8.50) by $8.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Baker BROS. Advisors LP boosted its position in KALA BIO by 83.1% during the 4th quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after buying an additional 818,962 shares during the period. Renaissance Technologies LLC grew its holdings in KALA BIO by 920.7% during the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after acquiring an additional 376,612 shares during the last quarter. Woodline Partners LP acquired a new position in KALA BIO in the 1st quarter valued at approximately $1,483,000. Jane Street Group LLC acquired a new position in KALA BIO in the 4th quarter valued at approximately $80,000. Finally, Virtu Financial LLC bought a new position in shares of KALA BIO during the fourth quarter valued at $48,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Company Profile

(Get Free Report)

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.

Further Reading

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