KALA BIO (NASDAQ:KALA) Issues Quarterly Earnings Results, Misses Expectations By $15.32 EPS

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

KALA BIO Price Performance

Shares of KALA traded up $0.00 during mid-day trading on Wednesday, reaching $0.90. The company’s stock had a trading volume of 25,097 shares, compared to its average volume of 125,191. The company’s 50 day moving average is $1.51 and its 200 day moving average is $7.65. The stock has a market cap of $17.41 million, a PE ratio of -0.01 and a beta of -2.26. KALA BIO has a 12-month low of $0.59 and a 12-month high of $1,030.00.

Analysts Set New Price Targets

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

Institutional Trading of KALA BIO

Several institutional investors have recently modified their holdings of KALA. Virtu Financial LLC purchased a new position in shares of KALA BIO in the 4th quarter valued at $48,000. XTX Topco Ltd purchased a new stake in KALA BIO in the second quarter valued at $62,000. Jane Street Group LLC purchased a new stake in KALA BIO in the fourth quarter valued at $80,000. Geode Capital Management LLC lifted its position in 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 acquiring an additional 1,534 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in KALA BIO in the first quarter valued at $1,483,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

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.