KALA BIO’s (KALA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of KALA BIO (NASDAQ:KALA) in a research report released on Thursday morning,Benzinga reports. HC Wainwright currently has a $15.00 target price on the stock.

KALA BIO Price Performance

Shares of NASDAQ:KALA opened at $8.38 on Thursday. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $51.03 million, a price-to-earnings ratio of -0.67 and a beta of -2.03. The firm has a fifty day moving average price of $7.58 and a 200 day moving average price of $6.62. KALA BIO has a fifty-two week low of $4.21 and a fifty-two week high of $11.20.

Insider Buying and Selling

In other news, CEO Mark T. Iwicki sold 5,779 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $7.63, for a total transaction of $44,093.77. Following the sale, the chief executive officer now directly owns 280,076 shares of the company’s stock, valued at $2,136,979.88. This represents a 2.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bros. Advisors Lp Baker bought 310,559 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average cost of $6.44 per share, with a total value of $1,999,999.96. Following the completion of the acquisition, the insider now owns 1,083,398 shares of the company’s stock, valued at $6,977,083.12. This represents a 40.18 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 9,506 shares of company stock worth $72,531. Corporate insiders own 8.32% of the company’s stock.

Institutional Trading of KALA BIO

Several hedge funds have recently made changes to their positions in the business. Silverarc Capital Management LLC bought a new stake in KALA BIO during the fourth quarter worth approximately $1,604,000. SR One Capital Management LP raised its holdings in KALA BIO by 35.0% during the 4th quarter. SR One Capital Management LP now owns 598,940 shares of the company’s stock valued at $4,157,000 after buying an additional 155,279 shares during the period. AIGH Capital Management LLC purchased a new position in KALA BIO during the fourth quarter worth $842,000. Finally, Geode Capital Management LLC increased its position in KALA BIO by 28.4% during the fourth quarter. Geode Capital Management LLC now owns 47,642 shares of the company’s stock valued at $331,000 after acquiring an additional 10,526 shares during the last quarter. 24.61% of the stock is currently owned by hedge funds and other 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.