Kiora Pharmaceuticals (NASDAQ:KPRX) Trading Down 5.9% – Time to Sell?

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) traded down 5.9% during mid-day trading on Tuesday . The stock traded as low as $3.10 and last traded at $3.21. 45,271 shares were traded during trading, an increase of 1% from the average session volume of 44,833 shares. The stock had previously closed at $3.41.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Kiora Pharmaceuticals in a research note on Tuesday, November 12th.

Kiora Pharmaceuticals Stock Performance

The firm has a 50 day moving average price of $3.46 and a 200-day moving average price of $3.68.

Kiora Pharmaceuticals (NASDAQ:KPRX) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.09. Analysts forecast that Kiora Pharmaceuticals, Inc. will post 0.89 EPS for the current fiscal year.

Institutional Trading of Kiora Pharmaceuticals

An institutional investor recently bought a new position in Kiora Pharmaceuticals stock. Stonepine Capital Management LLC purchased a new stake in Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 200,000 shares of the company’s stock, valued at approximately $840,000. Kiora Pharmaceuticals comprises 0.8% of Stonepine Capital Management LLC’s portfolio, making the stock its 16th biggest position. Stonepine Capital Management LLC owned 6.86% of Kiora Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors 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.