KALA BIO (NASDAQ:KALA) Given “Buy” Rating at HC Wainwright

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

KALA BIO Stock Performance

Shares of KALA BIO stock opened at $8.38 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 3.18. The stock’s fifty day moving average is $7.58 and its two-hundred day moving average is $6.62. KALA BIO has a 52 week low of $4.21 and a 52 week high of $11.20. The company has a market capitalization of $51.03 million, a PE ratio of -0.67 and a beta of -2.03.

Insider Activity at KALA BIO

In other news, major shareholder Bros. Advisors Lp Baker acquired 310,559 shares of KALA BIO stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $6.44 per share, for a total transaction of $1,999,999.96. Following the acquisition, the insider now directly owns 1,083,398 shares of the company’s stock, valued at $6,977,083.12. This trade represents a 40.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark T. Iwicki sold 5,779 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $7.63, for a total value of $44,093.77. Following the completion of the sale, the chief executive officer now owns 280,076 shares of the company’s stock, valued at $2,136,979.88. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,506 shares of company stock worth $72,531 in the last 90 days. 8.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KALA BIO

Several institutional investors have recently made changes to their positions in the company. SR One Capital Management LP grew 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 worth $4,157,000 after acquiring an additional 155,279 shares in the last quarter. Silverarc Capital Management LLC purchased a new stake in shares of KALA BIO in the 4th quarter worth approximately $1,604,000. AIGH Capital Management LLC purchased a new stake in shares of KALA BIO in the 4th quarter worth approximately $842,000. Finally, Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 10,526 shares in the last quarter. Hedge funds and other institutional investors own 24.61% of the company’s stock.

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.