KALA BIO (NASDAQ:KALA) Trading Down 10.2% – Should You Sell?

Shares of KALA BIO, Inc. (NASDAQ:KALA) fell 10.2% on Monday . The stock traded as low as $0.60 and last traded at $0.6062. 2,068,405 shares traded hands during trading, a decline of 90% from the average session volume of 21,455,346 shares. The stock had previously closed at $0.6752.

Wall Street Analyst Weigh In

KALA has been the topic of a number of research reports. Oppenheimer increased their price target on KALA BIO from $15.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. LADENBURG THALM/SH SH lowered KALA BIO from a “buy” rating to a “neutral” rating in a research report on Monday, September 29th. Mizuho set a $1.50 target price on KALA BIO in a report on Tuesday, September 30th. Lifesci Capital lowered shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, HC Wainwright reissued a “neutral” rating on shares of KALA BIO in a research note on Monday, September 29th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.38.

KALA BIO Trading Up 5.9%

The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.19. The stock has a market capitalization of $5.78 million, a P/E ratio of -0.10 and a beta of -2.50. The business’s fifty day simple moving average is $0.89 and its two-hundred day simple moving average is $5.59.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings results on Wednesday, November 19th. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.06). As a group, analysts forecast that KALA BIO, Inc. will post -10.84 earnings per share for the current year.

Insider Buying and Selling at KALA BIO

In other KALA BIO news, Director Mark T. Iwicki sold 154,894 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $0.81, for a total transaction of $125,464.14. Following the sale, the director directly owned 103,540 shares of the company’s stock, valued at approximately $83,867.40. This represents a 59.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Romulus K. Brazzell sold 46,748 shares of KALA BIO stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total value of $38,800.84. Following the completion of the transaction, the insider owned 35,952 shares of the company’s stock, valued at approximately $29,840.16. The trade was a 56.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,033,821 shares of company stock worth $1,304,385 over the last three months. 8.32% of the stock is currently owned by insiders.

Institutional Trading of KALA BIO

Several hedge funds have recently modified their holdings of the stock. ADAR1 Capital Management LLC boosted its holdings in KALA BIO by 35.7% in the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock valued at $1,713,000 after acquiring an additional 78,582 shares during the last quarter. Woodline Partners LP acquired a new position in shares of KALA BIO in the first quarter valued at approximately $1,483,000. AIGH Capital Management LLC boosted its stake in KALA BIO by 52.8% in the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after purchasing an additional 103,650 shares during the period. Geode Capital Management LLC grew its holdings in shares of KALA BIO by 2.8% during the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after buying an additional 1,534 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of KALA BIO in the second quarter valued at approximately $62,000. 24.61% of the stock is owned by institutional investors.

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.