KALA BIO (NASDAQ:KALA) Earns “Outperform” Rating from Oppenheimer

Oppenheimer reiterated their outperform rating on shares of KALA BIO (NASDAQ:KALA) in a research note issued to investors on Monday, Benzinga reports. They currently have a $15.00 price target on the stock.

KALA BIO Stock Performance

Shares of KALA stock opened at $7.99 on Monday. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 3.36. The business has a 50 day moving average of $7.40 and a two-hundred day moving average of $7.44. KALA BIO has a 52 week low of $5.10 and a 52 week high of $19.57. The company has a market cap of $21.49 million, a P/E ratio of -0.35 and a beta of -1.85.

Insider Activity

In other news, CEO Mark T. Iwicki sold 4,539 shares of KALA BIO stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $6.73, for a total transaction 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 filing with the SEC, which is accessible through this link. Corporate insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On KALA BIO

A number of hedge funds have recently made changes to their positions in KALA. State Street Corp raised its holdings in KALA BIO by 9.7% during the first 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 in the last quarter. Millennium Management LLC raised its holdings in KALA BIO by 1,044.4% during the second quarter. Millennium Management LLC now owns 572,189 shares of the company’s stock worth $172,000 after purchasing an additional 522,189 shares in the last quarter. Renaissance Technologies LLC raised its holdings in KALA BIO by 22.8% during the third quarter. Renaissance Technologies LLC now owns 436,800 shares of the company’s stock worth $97,000 after purchasing an additional 81,200 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in KALA BIO by 173.6% during the second quarter. Goldman Sachs Group Inc. now owns 243,918 shares of the company’s stock worth $74,000 after purchasing an additional 154,756 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings in KALA BIO by 11.3% during the first quarter. Virtu Financial LLC now owns 140,511 shares of the company’s stock worth $194,000 after purchasing an additional 14,280 shares in 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, 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.