KALA BIO (NASDAQ:KALA) Issues Quarterly Earnings Results

KALA BIO (NASDAQ:KALA) announced its quarterly earnings data on Wednesday. The company reported ($21.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.00) by ($15.32), FiscalAI reports.

KALA BIO Stock Up 0.1%

KALA traded up $0.00 during trading on Wednesday, reaching $0.90. The stock had a trading volume of 25,101 shares, compared to its average volume of 125,207. The stock has a 50 day moving average of $1.51 and a two-hundred day moving average of $7.65. KALA BIO has a 1-year low of $0.59 and a 1-year high of $1,030.00. The firm has a market capitalization of $17.41 million, a price-to-earnings ratio of -0.01 and a beta of -2.26.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in KALA BIO in the fourth quarter worth approximately $48,000. XTX Topco Ltd bought a new position in KALA BIO in the 2nd quarter worth approximately $62,000. Jane Street Group LLC bought a new position in KALA BIO during the fourth quarter worth $80,000. Geode Capital Management LLC increased its holdings in shares of KALA BIO by 2.8% during the 2nd 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 during the period. Finally, Woodline Partners LP acquired a new position in KALA BIO in the 1st quarter valued at approximately $1,483,000. 24.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KALA shares. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1,158.33.

KALA BIO Company Profile

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.