HC Wainwright Reaffirms “Buy” Rating for KALA BIO (NASDAQ:KALA)

HC Wainwright reiterated their buy rating on shares of KALA BIO (NASDAQ:KALA) in a research report report published on Thursday,Benzinga reports. The firm currently has a $15.00 price target on the stock.

KALA BIO Price Performance

Shares of KALA opened at $7.76 on Thursday. The firm has a market cap of $47.26 million, a PE ratio of -0.62 and a beta of -2.03. KALA BIO has a 52-week low of $4.21 and a 52-week high of $11.20. The business’s 50 day moving average price is $7.54 and its two-hundred day moving average price is $6.62. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.15 and a current ratio of 2.15.

KALA BIO (NASDAQ:KALA) last released its earnings results on Tuesday, November 12th. The company reported ($1.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.43) by $0.50. On average, equities analysts anticipate that KALA BIO will post -10.84 EPS for the current year.

Insider Transactions at KALA BIO

In other news, major shareholder Bros. Advisors Lp Baker bought 310,559 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were bought 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark T. Iwicki sold 5,779 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 280,076 shares of the company’s stock, valued at $2,136,979.88. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,506 shares of company stock valued at $72,531 in the last 90 days. 8.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KALA BIO

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of KALA BIO by 28.4% in the fourth 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 in the last quarter. AIGH Capital Management LLC purchased a new stake in KALA BIO in the 4th quarter valued at $842,000. Finally, SR One Capital Management LP raised its position 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 valued at $4,157,000 after buying an additional 155,279 shares during the last quarter. 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.