KALA BIO (NASDAQ:KALA) Shares Down 3% – Here’s Why

Shares of KALA BIO, Inc. (NASDAQ:KALA) fell 3% on Monday . The company traded as low as $6.75 and last traded at $6.78. 18,942 shares were traded during trading, a decline of 78% from the average session volume of 85,619 shares. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

Separately, Oppenheimer reissued an “outperform” rating and issued a $15.00 target price on shares of KALA BIO in a report on Monday, August 19th.

KALA BIO Stock Performance

The business has a 50-day moving average price of $5.81 and a 200-day moving average price of $6.25. The firm has a market capitalization of $31.26 million, a price-to-earnings ratio of -0.49 and a beta of -2.13. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 1.97.

KALA BIO (NASDAQ:KALA) last released its earnings results on Tuesday, August 6th. The company reported ($3.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.40) by $1.24. As a group, sell-side analysts forecast that KALA BIO, Inc. will post -11.76 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in KALA BIO stock. SR One Capital Management LP acquired a new stake in KALA BIO, Inc. (NASDAQ:KALA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 443,661 shares of the company’s stock, valued at approximately $3,146,000. KALA BIO comprises about 1.0% of SR One Capital Management LP’s portfolio, making the stock its 9th largest position. SR One Capital Management LP owned approximately 15.76% of KALA BIO at the end of the most recent quarter. 24.61% of the stock is owned by institutional investors.

KALA BIO Company Profile

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.