KALA BIO (NASDAQ:KALA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of KALA BIO (NASDAQ:KALA) from a sell rating to a hold rating in a report published on Saturday morning.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, KALA BIO presently has an average rating of “Hold” and an average target price of $1,158.33.

KALA BIO Trading Up 1.0%

Shares of NASDAQ KALA opened at $0.76 on Friday. The business has a 50-day moving average of $1.67 and a 200-day moving average of $8.86. The firm has a market capitalization of $14.60 million, a price-to-earnings ratio of -0.01 and a beta of -2.26. KALA BIO has a 12 month low of $0.59 and a 12 month high of $1,030.00.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after purchasing an additional 1,534 shares in the last quarter. XTX Topco Ltd purchased a new position in KALA BIO in the 2nd quarter worth $62,000. BlackRock Inc. purchased a new position in KALA BIO in the 2nd quarter worth $124,000. Virtu Financial LLC purchased a new position in KALA BIO in the 4th quarter worth $48,000. Finally, Jane Street Group LLC bought a new stake in KALA BIO in the fourth quarter worth $80,000. 24.61% of the stock is currently owned by institutional investors.

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.