Kiora Pharmaceuticals (NASDAQ:KPRX) Stock Price Down 5.9% – Here’s What Happened

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX)’s share price fell 5.9% during trading on Tuesday . The stock traded as low as $3.10 and last traded at $3.21. 45,271 shares traded hands during trading, an increase of 1% from the average session volume of 44,833 shares. The stock had previously closed at $3.41.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Kiora Pharmaceuticals in a research report on Tuesday, November 12th.

Kiora Pharmaceuticals Stock Down 5.9 %

The stock has a 50-day simple moving average of $3.46 and a 200 day simple moving average of $3.68.

Kiora Pharmaceuticals (NASDAQ:KPRX) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.09. On average, sell-side analysts expect that Kiora Pharmaceuticals, Inc. will post 0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kiora Pharmaceuticals

A hedge fund recently bought a new stake in Kiora Pharmaceuticals stock. Stonepine Capital Management LLC acquired a new position in shares of Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the company’s stock, valued at approximately $840,000. Kiora Pharmaceuticals makes up approximately 0.8% of Stonepine Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Stonepine Capital Management LLC owned 6.86% of Kiora Pharmaceuticals as of its most recent SEC filing. 76.97% of the stock is currently owned by institutional investors and hedge funds.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals, Inc, a clinical-stage specialty pharmaceutical company, develops and commercializes therapies for the treatment of ophthalmic diseases in the United States. Its lead product is KIO-301, a potential vision-restoring small molecule, which is in Phase 1b clinical trial that acts as a photoswitch to restore vision in patients with inherited and age-related degenerative retinal diseases.