KALA BIO (NASDAQ:KALA) Issues Earnings Results, Beats Estimates By $1.24 EPS

KALA BIO (NASDAQ:KALA) posted its quarterly earnings data on Tuesday. The company reported ($3.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.40) by $1.24, Yahoo Finance reports.

KALA BIO Stock Down 3.7 %

Shares of KALA BIO stock traded down $0.23 on Wednesday, reaching $5.96. The company’s stock had a trading volume of 12,264 shares, compared to its average volume of 114,791. The company has a market capitalization of $16.78 million, a price-to-earnings ratio of -0.39 and a beta of -2.03. The firm’s fifty day simple moving average is $6.50 and its two-hundred day simple moving average is $6.92. KALA BIO has a 52 week low of $4.21 and a 52 week high of $14.50. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 4.92.

Insiders Place Their Bets

In related news, CEO Mark T. Iwicki sold 15,168 shares of KALA BIO stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $4.75, for a total value of $72,048.00. Following the completion of the sale, the chief executive officer now owns 263,755 shares of the company’s stock, valued at $1,252,836.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Mark T. Iwicki sold 15,168 shares of KALA BIO stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $4.75, for a total value of $72,048.00. Following the completion of the sale, the chief executive officer now owns 263,755 shares of the company’s stock, valued at $1,252,836.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark T. Iwicki sold 7,392 shares of KALA BIO stock in a transaction on Friday, May 31st. The stock was sold at an average price of $6.09, for a total value of $45,017.28. Following the completion of the sale, the chief executive officer now directly owns 278,923 shares of the company’s stock, valued at approximately $1,698,641.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,255 shares of company stock valued at $182,564. Corporate insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reduced their target price on KALA BIO from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, May 17th.

KALA BIO Company Profile

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.