KALA BIO’s (KALA) “Sell (E+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (e+) rating on shares of KALA BIO (NASDAQ:KALA) in a research note issued to investors on Friday morning,Weiss Ratings reports.

A number of other analysts have also recently weighed in on KALA. Oppenheimer increased their price target on shares of KALA BIO from $15.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Mizuho set a $1.50 price target on shares of KALA BIO in a research note on Tuesday, September 30th. Wall Street Zen cut shares of KALA BIO from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Lifesci Capital cut shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, LADENBURG THALM/SH SH cut shares of KALA BIO from a “buy” rating to a “neutral” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.38.

KALA BIO Trading Up 3.2%

NASDAQ KALA opened at $0.78 on Friday. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.10 and a quick ratio of 2.10. The firm’s fifty day moving average price is $8.23 and its 200 day moving average price is $6.23. The company has a market capitalization of $5.48 million, a price-to-earnings ratio of -0.11 and a beta of -2.10. KALA BIO has a 12 month low of $0.74 and a 12 month high of $20.60.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings results on Friday, August 8th. The company reported ($1.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.82) by $0.11. On average, sell-side analysts expect that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mary Reumuth sold 32,230 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total value of $26,750.90. Following the completion of the sale, the chief financial officer owned 29,873 shares in the company, valued at approximately $24,794.59. This trade represents a 51.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bros. Advisors Lp Baker sold 513,607 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $1.38, for a total transaction of $708,777.66. Following the completion of the sale, the insider owned 46,480 shares of the company’s stock, valued at $64,142.40. This trade represents a 91.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,033,821 shares of company stock worth $1,304,385. 8.32% of the stock is currently owned by insiders.

Institutional Trading of KALA BIO

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of KALA BIO in the second quarter valued at about $62,000. Readystate Asset Management LP acquired a new stake in shares of KALA BIO in the first quarter valued at about $243,000. Geode Capital Management LLC lifted its stake in shares of KALA BIO by 2.8% in the second 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 during the period. AIGH Capital Management LLC lifted its stake in shares of KALA BIO by 61.9% in the first quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock valued at $1,125,000 after purchasing an additional 75,048 shares during the period. Finally, Woodline Partners LP acquired a new stake in shares of KALA BIO in the first quarter valued at about $1,483,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

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.