KALA BIO (NASDAQ:KALA) PT Lowered to $21.00

KALA BIO (NASDAQ:KALAGet Free Report) had its price target lowered by research analysts at HC Wainwright from $22.00 to $21.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 162.50% from the stock’s previous close.

Separately, Oppenheimer reissued an “outperform” rating and set a $15.00 price objective on shares of KALA BIO in a report on Monday.

Get Our Latest Analysis on KALA

KALA BIO Stock Up 0.1 %

KALA stock traded up $0.01 during mid-day trading on Tuesday, hitting $8.00. 6,895 shares of the company were exchanged, compared to its average volume of 28,804. The company has a market capitalization of $21.52 million, a PE ratio of -0.35 and a beta of -1.85. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 3.36. KALA BIO has a twelve month low of $5.10 and a twelve month high of $19.57. The firm has a fifty day simple moving average of $7.38 and a 200 day simple moving average of $7.45.

Insider Transactions at KALA BIO

In other news, CEO Mark T. Iwicki sold 4,539 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $6.73, for a total value of $30,547.47. Following the transaction, the chief executive officer now directly owns 286,315 shares in the company, valued at approximately $1,926,899.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.40% of the company’s stock.

Institutional Trading of KALA BIO

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC bought a new stake in KALA BIO in the 2nd quarter valued at about $259,000. Dimensional Fund Advisors LP bought a new stake in KALA BIO in the 2nd quarter valued at about $240,000. Virtu Financial LLC lifted its position in KALA BIO by 11.3% in the 1st quarter. Virtu Financial LLC now owns 140,511 shares of the company’s stock valued at $194,000 after purchasing an additional 14,280 shares during the last quarter. Millennium Management LLC lifted its position in KALA BIO by 1,044.4% in the 2nd quarter. Millennium Management LLC now owns 572,189 shares of the company’s stock valued at $172,000 after purchasing an additional 522,189 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in KALA BIO by 552.8% in the 1st quarter. Jane Street Group LLC now owns 119,963 shares of the company’s stock valued at $166,000 after purchasing an additional 101,587 shares during the last quarter. 24.61% of the stock is currently owned by institutional investors.

About KALA BIO

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KALA BIO, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for the treatment of eye diseases. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects; EYSUVIS for the short-term treatment of the signs and symptoms of dry eye disease; and INVELTYS, a topical twice-a-day ocular steroid for the treatment of post-operative inflammation and pain following ocular surgery.

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