KALA BIO (NASDAQ:KALA) Trading Down 5.3% – Time to Sell?

KALA BIO, Inc. (NASDAQ:KALA) dropped 5.3% during mid-day trading on Thursday . The company traded as low as $6.74 and last traded at $7.17. Approximately 31,585 shares traded hands during trading, a decline of 63% from the average daily volume of 85,118 shares. The stock had previously closed at $7.57.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of KALA BIO in a research note on Thursday, February 13th.

KALA BIO Stock Down 1.7 %

The company has a market cap of $42.94 million, a P/E ratio of -0.57 and a beta of -2.03. The stock has a 50-day moving average of $7.80 and a two-hundred day moving average of $6.71. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.15 and a current ratio of 2.15.

Insider Transactions at KALA BIO

In related news, CEO Mark T. Iwicki sold 5,779 shares of KALA BIO stock in a transaction 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 owns 280,076 shares in the company, valued at $2,136,979.88. This trade represents a 2.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bros. Advisors Lp Baker purchased 310,559 shares of the stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $6.44 per share, with a total value of $1,999,999.96. Following the completion of the purchase, the insider now directly owns 1,083,398 shares of the company’s stock, valued at $6,977,083.12. The trade was a 40.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 9,506 shares of company stock worth $72,531. 8.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KALA BIO

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted 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 valued at $331,000 after purchasing an additional 10,526 shares during the last quarter. AIGH Capital Management LLC purchased a new position in shares of KALA BIO in the fourth quarter worth $842,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of KALA BIO by 10.0% in 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 buying an additional 16,271 shares during the period. Silverarc Capital Management LLC bought a new stake in KALA BIO during the 4th quarter valued at $1,604,000. Finally, SR One Capital Management LP boosted its position in KALA BIO by 35.0% during the 4th quarter. SR One Capital Management LP now owns 598,940 shares of the company’s stock valued at $4,157,000 after buying an additional 155,279 shares during the period. 24.61% of the stock is currently owned by institutional investors.

About KALA BIO

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.