KALA BIO's (KALA) Buy Rating Reaffirmed at HC Wainwright

KALA BIO (NASDAQ:KALA - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $15.00 target price on the stock. HC Wainwright's price objective indicates a potential upside of 79.00% from the stock's previous close.

KALA BIO Stock Performance

NASDAQ:KALA traded up $0.62 during trading hours on Thursday, reaching $8.38. 73,682 shares of the stock were exchanged, compared to its average volume of 57,485. KALA BIO has a 52 week low of $4.21 and a 52 week high of $11.20. 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 has a market capitalization of $51.03 million, a P/E ratio of -0.67 and a beta of -2.03. The firm has a 50 day simple moving average of $7.58 and a 200-day simple moving average of $6.63.

Insider Buying and Selling at KALA BIO

In other KALA BIO news, major shareholder Bros. Advisors Lp Baker bought 310,559 shares of the business's stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $6.44 per share, with a total value of $1,999,999.96. Following the completion of the acquisition, the insider now directly owns 1,083,398 shares of the company's stock, valued at approximately $6,977,083.12. The trade was a 40.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark T. Iwicki sold 5,779 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $7.63, for a total value of $44,093.77. Following the transaction, the chief executive officer now directly owns 280,076 shares of the company's stock, valued at $2,136,979.88. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,506 shares of company stock worth $72,531 over the last 90 days. 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 stock. Geode Capital Management LLC increased its position in KALA BIO by 28.4% in the fourth quarter. Geode Capital Management LLC now owns 47,642 shares of the company's stock worth $331,000 after buying an additional 10,526 shares during the period. AIGH Capital Management LLC acquired a new position in shares of KALA BIO during the fourth quarter valued at $842,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of KALA BIO by 10.0% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,934 shares of the company's stock worth $1,242,000 after acquiring an additional 16,271 shares during the last quarter. Silverarc Capital Management LLC acquired a new stake in shares of KALA BIO in the 4th quarter worth about $1,604,000. Finally, SR One Capital Management LP lifted its position in KALA BIO by 35.0% in the 4th quarter. SR One Capital Management LP now owns 598,940 shares of the company's stock valued at $4,157,000 after purchasing an additional 155,279 shares during the last quarter. Institutional investors own 24.61% of the company's stock.

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.