KALA BIO (NASDAQ:KALA) Price Target Cut to $22.00 by Analysts at HC Wainwright

KALA BIO (NASDAQ:KALA) had its price objective lowered by HC Wainwright from $24.00 to $22.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

KALA BIO Stock Performance

Shares of KALA opened at $5.97 on Friday. The stock’s 50-day simple moving average is $8.04 and its 200 day simple moving average is $12.32. The stock has a market capitalization of $16.06 million, a price-to-earnings ratio of -0.26 and a beta of -1.49. The company has a debt-to-equity ratio of 3.36, a quick ratio of 6.65 and a current ratio of 5.62. KALA BIO has a 52-week low of $3.54 and a 52-week high of $56.72.

Institutional Trading of KALA BIO

Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in KALA BIO by 518.7% in the 1st quarter. UBS Group AG now owns 1,918 shares of the company’s stock worth $29,000 after acquiring an additional 1,608 shares during the last quarter. Mirabella Financial Services LLP bought a new position in KALA BIO in the 1st quarter worth about $30,000. Goldman Sachs Group Inc. increased its stake in KALA BIO by 173.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 243,918 shares of the company’s stock worth $74,000 after acquiring an additional 154,756 shares during the last quarter. Renaissance Technologies LLC increased its stake in KALA BIO by 22.8% in the 3rd quarter. Renaissance Technologies LLC now owns 436,800 shares of the company’s stock worth $97,000 after acquiring an additional 81,200 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in KALA BIO in the 1st quarter worth about $141,000. Hedge funds and other institutional investors own 23.98% of the company’s stock.

About KALA BIO

KALA BIO, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for the treatment of eye diseases. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects; EYSUVIS for the short-term treatment of the signs and symptoms of dry eye disease; and INVELTYS, a topical twice-a-day ocular steroid for the treatment of post-operative inflammation and pain following ocular surgery.