Kiora Pharmaceuticals (NASDAQ:KPRX) Stock Price Down 0.8% – Here’s What Happened

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX)’s stock price fell 0.8% during mid-day trading on Wednesday . The company traded as low as $2.49 and last traded at $2.49. Approximately 15,764 shares changed hands during trading, an increase of 11% from the average daily volume of 14,200 shares. The stock had previously closed at $2.51.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Kiora Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Kiora Pharmaceuticals Stock Up 2.7%

The company has a market cap of $11.71 million, a PE ratio of -1.06 and a beta of -0.34. The firm’s 50-day moving average is $2.57 and its 200-day moving average is $2.44.

Kiora Pharmaceuticals (NASDAQ:KPRX) last posted its earnings results on Friday, August 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.13.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. ADAR1 Capital Management LLC purchased a new stake in shares of Kiora Pharmaceuticals in the second quarter worth $442,000. DRW Securities LLC raised its holdings in Kiora Pharmaceuticals by 199.2% in the fourth quarter. DRW Securities LLC now owns 110,282 shares of the company’s stock worth $217,000 after buying an additional 73,417 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Kiora Pharmaceuticals during the fourth quarter valued at approximately $152,000. Citadel Advisors LLC purchased a new position in Kiora Pharmaceuticals in the 3rd quarter worth approximately $125,000. Finally, Renaissance Technologies LLC lifted its position in Kiora Pharmaceuticals by 71.0% in the 4th quarter. Renaissance Technologies LLC now owns 21,200 shares of the company’s stock valued at $42,000 after acquiring an additional 8,800 shares in the last quarter. 76.97% of the stock is currently owned by institutional investors.

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.