HC Wainwright Cuts KALA BIO (NASDAQ:KALA) Price Target to $22.00

KALA BIO (NASDAQ:KALA) had its target price dropped by investment analysts at HC Wainwright from $24.00 to $22.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 313.53% from the stock’s previous close.

KALA BIO Price Performance

Shares of NASDAQ:KALA opened at $5.32 on Friday. KALA BIO has a 12 month low of $3.54 and a 12 month high of $56.72. The firm has a market capitalization of $14.31 million, a P/E ratio of -0.23 and a beta of -1.49. The company has a debt-to-equity ratio of 3.36, a current ratio of 5.62 and a quick ratio of 6.65. The company’s fifty day moving average price is $8.26 and its 200 day moving average price is $12.49.

Institutional Trading of KALA BIO

A number of large investors have recently made changes to their positions in KALA. Integrated Wealth Concepts LLC purchased a new stake in KALA BIO in the first quarter valued at approximately $141,000. Renaissance Technologies LLC raised its position in KALA BIO by 107.9% in the 1st quarter. Renaissance Technologies LLC now owns 261,700 shares of the company’s stock valued at $361,000 after purchasing an additional 135,800 shares during the last quarter. State Street Corp boosted its stake in KALA BIO by 9.7% during the 1st quarter. State Street Corp now owns 1,224,965 shares of the company’s stock worth $1,690,000 after purchasing an additional 108,674 shares during the period. Jane Street Group LLC boosted its stake in KALA BIO by 552.8% during the 1st quarter. Jane Street Group LLC now owns 119,963 shares of the company’s stock worth $166,000 after purchasing an additional 101,587 shares during the period. Finally, Mirabella Financial Services LLP purchased a new position in KALA BIO during the 1st quarter worth $30,000. 23.98% of the stock is owned by institutional investors and hedge funds.

KALA BIO Company Profile

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.