KALA BIO (NASDAQ:KALA) Downgraded to “Sell” Rating by Wall Street Zen

KALA BIO (NASDAQ:KALA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other equities analysts have also recently issued reports on KALA. Oppenheimer restated an “outperform” rating and issued a $15.00 price target on shares of KALA BIO in a research report on Monday, June 2nd. HC Wainwright decreased their price target on KALA BIO from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Finally, LADENBURG THALM/SH SH assumed coverage on KALA BIO in a research note on Friday, July 11th. They issued a “buy” rating and a $12.00 target price on the stock.

KALA BIO Stock Down 3.9%

KALA BIO stock opened at $5.74 on Friday. KALA BIO has a fifty-two week low of $2.92 and a fifty-two week high of $11.20. The company has a debt-to-equity ratio of 3.19, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market capitalization of $37.02 million, a P/E ratio of -0.70 and a beta of -1.88. The stock has a 50-day simple moving average of $4.51 and a 200-day simple moving average of $5.67.

Insiders Place Their Bets

In related news, Director Mark T. Iwicki sold 13,227 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $4.01, for a total value of $53,040.27. Following the transaction, the director directly owned 258,433 shares of the company’s stock, valued at approximately $1,036,316.33. This trade represents a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 41,335 shares of company stock valued at $162,876. Insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Woodline Partners LP acquired a new stake in shares of KALA BIO during the first quarter valued at about $1,483,000. ADAR1 Capital Management LLC boosted its stake in KALA BIO by 35.7% in the first quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock valued at $1,713,000 after acquiring an additional 78,582 shares during the period. Readystate Asset Management LP acquired a new position in shares of KALA BIO during the first quarter worth approximately $243,000. AIGH Capital Management LLC boosted its position in shares of KALA BIO by 61.9% during the first quarter. AIGH Capital Management LLC now owns 196,350 shares of the company’s stock worth $1,125,000 after buying an additional 75,048 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of KALA BIO by 10.0% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,934 shares of the company’s stock worth $1,242,000 after buying an additional 16,271 shares during the period. 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.