Kiora Pharmaceuticals (NASDAQ:KPRX) Stock Price Down 1.1% – Here’s Why

Shares of Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) fell 1.1% on Tuesday . The company traded as low as $3.42 and last traded at $3.45. 12,917 shares were traded during mid-day trading, a decline of 83% from the average session volume of 75,676 shares. The stock had previously closed at $3.49.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Kiora Pharmaceuticals in a report on Thursday, August 22nd.

Kiora Pharmaceuticals Stock Down 1.1 %

The business’s fifty day simple moving average is $3.55 and its 200 day simple moving average is $4.41.

Kiora Pharmaceuticals (NASDAQ:KPRX) last issued its earnings results on Friday, August 9th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.42. The firm had revenue of $0.02 million during the quarter. Equities analysts predict that Kiora Pharmaceuticals, Inc. will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Kiora Pharmaceuticals

A hedge fund recently bought a new stake in Kiora Pharmaceuticals stock. Stonepine Capital Management LLC acquired a new stake in shares of Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 200,000 shares of the company’s stock, valued at approximately $840,000. Kiora Pharmaceuticals comprises approximately 0.8% of Stonepine Capital Management LLC’s holdings, making the stock its 16th biggest position. Stonepine Capital Management LLC owned 6.86% of Kiora Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 76.97% of the company’s stock.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals, Inc, a clinical-stage specialty pharmaceutical company, develops and commercializes therapies for the treatment of ophthalmic diseases in the United States. Its lead product is KIO-301, a potential vision-restoring small molecule, which is in Phase 1b clinical trial that acts as a photoswitch to restore vision in patients with inherited and age-related degenerative retinal diseases.