KALA BIO (NASDAQ:KALA) Stock Price Down 5.3% – Time to Sell?

KALA BIO, Inc. (NASDAQ:KALA) fell 5.3% during mid-day trading on Thursday . The stock traded as low as $6.74 and last traded at $7.17. 31,585 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 85,118 shares. The stock had previously closed at $7.57.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of KALA BIO in a report on Thursday, February 13th.

KALA BIO Trading Down 1.7 %

The company has a market capitalization of $42.94 million, a P/E ratio of -0.57 and a beta of -2.03. The firm has a fifty day moving average price of $7.80 and a 200-day moving average price of $6.71. The company has a debt-to-equity ratio of 3.18, a current ratio of 2.15 and a quick ratio of 2.15.

Insider Buying and Selling at KALA BIO

In related news, CEO Mark T. Iwicki sold 5,779 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $7.63, for a total value of $44,093.77. Following the completion of the transaction, the chief executive officer now directly owns 280,076 shares of the company’s stock, valued at approximately $2,136,979.88. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bros. Advisors Lp Baker bought 310,559 shares of the stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $6.44 per share, for a total transaction of $1,999,999.96. Following the acquisition, the insider now directly owns 1,083,398 shares in the company, valued at approximately $6,977,083.12. This trade represents a 40.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 9,506 shares of company stock worth $72,531 over the last ninety days. 8.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KALA BIO

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in KALA BIO by 28.4% in the 4th quarter. Geode Capital Management LLC now owns 47,642 shares of the company’s stock valued at $331,000 after purchasing an additional 10,526 shares during the period. AIGH Capital Management LLC bought a new stake in KALA BIO during the fourth quarter valued at $842,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in KALA BIO by 10.0% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,934 shares of the company’s stock valued at $1,242,000 after buying an additional 16,271 shares during the period. Silverarc Capital Management LLC purchased a new position in KALA BIO during the fourth quarter worth about $1,604,000. Finally, SR One Capital Management LP increased its stake in KALA BIO by 35.0% in the 4th quarter. SR One Capital Management LP now owns 598,940 shares of the company’s stock worth $4,157,000 after acquiring an additional 155,279 shares during the last quarter. 24.61% of the stock is owned by institutional investors.

About KALA BIO

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.