KALA BIO (NASDAQ:KALA) Given New $21.00 Price Target at HC Wainwright

KALA BIO (NASDAQ:KALAFree Report) had its price objective decreased by HC Wainwright from $22.00 to $21.00 in a research report released on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, Oppenheimer reissued an outperform rating and issued a $15.00 price target on shares of KALA BIO in a research report on Monday.

Read Our Latest Research Report on KALA

KALA BIO Stock Performance

NASDAQ KALA opened at $7.99 on Tuesday. KALA BIO has a 52-week low of $5.10 and a 52-week high of $19.57. The company has a 50-day simple moving average of $7.40 and a 200 day simple moving average of $7.44. The company has a debt-to-equity ratio of 3.36, a quick ratio of 5.62 and a current ratio of 5.62. The company has a market capitalization of $21.49 million, a PE ratio of -0.35 and a beta of -1.85.

Insider Activity

In other news, CEO Mark T. Iwicki sold 4,539 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $6.73, for a total value of $30,547.47. Following the sale, the chief executive officer now owns 286,315 shares of the company’s stock, valued at $1,926,899.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 13.40% of the company’s stock.

Hedge Funds Weigh In On KALA BIO

Several hedge funds have recently bought and sold shares of KALA. Integrated Wealth Concepts LLC purchased a new position in KALA BIO during the first quarter valued at approximately $141,000. Renaissance Technologies LLC grew its stake in KALA BIO by 107.9% during the first quarter. Renaissance Technologies LLC now owns 261,700 shares of the company’s stock valued at $361,000 after acquiring an additional 135,800 shares in the last quarter. State Street Corp grew its stake in KALA BIO by 9.7% during the first quarter. State Street Corp now owns 1,224,965 shares of the company’s stock valued at $1,690,000 after acquiring an additional 108,674 shares in the last quarter. Jane Street Group LLC grew its stake in KALA BIO by 552.8% during the first quarter. Jane Street Group LLC now owns 119,963 shares of the company’s stock valued at $166,000 after acquiring an additional 101,587 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in KALA BIO in the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

KALA BIO Company Profile

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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.

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