KALA BIO (NASDAQ:KALA) Given “Buy” Rating at HC Wainwright

KALA BIO (NASDAQ:KALA)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 101.61% from the company’s current price.

KALA BIO Stock Down 31.6 %

Shares of KALA BIO stock opened at $7.44 on Thursday. KALA BIO has a 52-week low of $4.21 and a 52-week high of $11.20. The firm’s 50 day moving average price is $7.51 and its 200-day moving average price is $6.61. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 3.18. The company has a market cap of $45.31 million, a P/E ratio of -0.60 and a beta of -2.03.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.43) by $0.50. On average, sell-side analysts predict that KALA BIO will post -10.84 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of KALA BIO

A hedge fund recently raised its stake in KALA BIO stock. Geode Capital Management LLC increased its position in shares of KALA BIO, Inc. (NASDAQ:KALA) by 28.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,642 shares of the company’s stock after purchasing an additional 10,526 shares during the quarter. Geode Capital Management LLC owned 0.78% of KALA BIO worth $331,000 as of its most recent SEC filing. 24.61% of the stock is owned by hedge funds and other 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.