KALA BIO (NASDAQ:KALA) Trading Down 12.2% After Insider Selling

KALA BIO, Inc. (NASDAQ:KALA) dropped 12.2% during trading on Friday following insider selling activity. The stock traded as low as $4.36 and last traded at $4.62. Approximately 160,690 shares were traded during mid-day trading, an increase of 218% from the average daily volume of 50,602 shares. The stock had previously closed at $5.26.

Specifically, Director Mark T. Iwicki sold 13,227 shares of the company’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $4.01, for a total transaction of $53,040.27. Following the completion of the transaction, the director now directly owns 258,433 shares in the company, valued at $1,036,316.33. This represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KALA shares. Oppenheimer reissued an “outperform” rating and set a $15.00 target price on shares of KALA BIO in a report on Monday, June 2nd. HC Wainwright cut their target price on shares of KALA BIO from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd.

KALA BIO Stock Performance

The firm has a market capitalization of $29.80 million, a P/E ratio of -0.56 and a beta of -1.98. The company’s 50 day moving average is $3.88 and its 200-day moving average is $5.75. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 3.19.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Friday, March 28th. The company reported ($1.74) earnings per share for the quarter, topping the consensus estimate of ($2.28) by $0.54. As a group, equities analysts anticipate that KALA BIO, Inc. will post -10.84 EPS for the current year.

Institutional Trading of KALA BIO

Several institutional investors have recently bought and sold shares of KALA. Readystate Asset Management LP bought a new position in shares of KALA BIO in the 1st quarter worth approximately $243,000. Geode Capital Management LLC raised its stake in KALA BIO by 28.4% during the 4th quarter. Geode Capital Management LLC now owns 47,642 shares of the company’s stock worth $331,000 after acquiring an additional 10,526 shares during the period. AIGH Capital Management LLC purchased a new stake in KALA BIO during the 4th quarter valued at approximately $842,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in KALA BIO by 10.0% during the 4th 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 in the last quarter. Finally, Woodline Partners LP purchased a new stake in KALA BIO during the 1st quarter valued at approximately $1,483,000. 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.