BNP Paribas Arbitrage SA raised its stake in shares of Kala Pharmaceuticals Inc (NASDAQ:KALA) by 877.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,410 shares of the company’s stock after purchasing an additional 3,061 shares during the period. BNP Paribas Arbitrage SA’s holdings in Kala Pharmaceuticals were worth $28,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Matisse Capital acquired a new stake in shares of Kala Pharmaceuticals in the first quarter valued at $361,000. Deutsche Bank AG increased its stake in shares of Kala Pharmaceuticals by 349.6% in the fourth quarter. Deutsche Bank AG now owns 268,054 shares of the company’s stock valued at $1,310,000 after buying an additional 208,436 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Kala Pharmaceuticals by 79.4% in the fourth quarter. Geode Capital Management LLC now owns 199,935 shares of the company’s stock valued at $977,000 after buying an additional 88,484 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kala Pharmaceuticals by 62.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 255,760 shares of the company’s stock valued at $1,251,000 after buying an additional 98,591 shares in the last quarter. Finally, Sofinnova Investments Inc. increased its stake in shares of Kala Pharmaceuticals by 365.8% in the fourth quarter. Sofinnova Investments Inc. now owns 445,516 shares of the company’s stock valued at $2,178,000 after buying an additional 349,861 shares in the last quarter. Institutional investors own 69.92% of the company’s stock.
Shares of KALA stock opened at $5.11 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.30 and a quick ratio of 9.93. The stock has a market capitalization of $173.14 million, a P/E ratio of -2.06 and a beta of 1.91. Kala Pharmaceuticals Inc has a 12 month low of $4.03 and a 12 month high of $14.95.
A number of brokerages recently commented on KALA. Zacks Investment Research lowered Kala Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Wedbush set a $51.00 price objective on Kala Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, May 14th. BidaskClub upgraded Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Oppenheimer began coverage on Kala Pharmaceuticals in a research report on Wednesday, April 24th. They issued an “outperform” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.21.
In other news, Director Howard B. Rosen acquired 5,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $5.42 per share, for a total transaction of $27,100.00. Following the completion of the transaction, the director now directly owns 8,240 shares in the company, valued at $44,660.80. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 30.77% of the stock is owned by company insiders.
Kala Pharmaceuticals Company Profile
Kala Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies using its proprietary nanoparticle-based Mucus Penetrating Particles (MPP) technology for the treatment of eye diseases. The company's lead product candidate is KPI-121 0.25% which has completed two Phase III clinical trials for the treatment of temporary relief of the signs and symptoms of dry eye disease; INVELTYS which has completed two Phase III clinical trials for the treatment of inflammation and pain following ocular surgery; and KPI-285, a MPP receptor tyrosine kinase inhibitor program, which is in preclinical studies for the treatment of retinal diseases.
Further Reading: Beta
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