KALA BIO (NASDAQ:KALA) Releases Quarterly Earnings Results

KALA BIO (NASDAQ:KALA) issued its quarterly earnings results on Wednesday. The company reported $0.86 earnings per share for the quarter, Zacks reports.

KALA BIO Stock Down 12.0%

Shares of NASDAQ:KALA opened at $0.20 on Thursday. KALA BIO has a 52-week low of $0.15 and a 52-week high of $20.60. The stock has a market cap of $181.17 million, a P/E ratio of -0.03 and a beta of -1.98. The business’s 50 day moving average is $0.29 and its 200 day moving average is $0.64.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, KALA BIO presently has a consensus rating of “Hold” and a consensus price target of $20.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KALA. Virtu Financial LLC bought a new position in KALA BIO in the fourth quarter worth approximately $48,000. XTX Topco Ltd bought a new position in KALA BIO in the second quarter worth approximately $62,000. Jane Street Group LLC bought a new position in KALA BIO in the fourth quarter worth approximately $80,000. Geode Capital Management LLC grew its stake in KALA BIO by 2.8% in the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after purchasing an additional 1,534 shares in the last quarter. Finally, Woodline Partners LP bought a new position in KALA BIO in the first quarter worth approximately $1,483,000. Institutional investors own 24.61% of the company’s stock.

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.