Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) Short Interest Down 65.8% in June

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 7,148 shares, a decrease of 65.8% from the June 15th total of 20,871 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 29,227 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new position in shares of Kiora Pharmaceuticals in the 3rd quarter valued at about $33,000. Renaissance Technologies LLC lifted its stake in Kiora Pharmaceuticals by 71.0% during the fourth quarter. Renaissance Technologies LLC now owns 21,200 shares of the company’s stock worth $42,000 after purchasing an additional 8,800 shares during the last quarter. Citadel Advisors LLC acquired a new position in Kiora Pharmaceuticals in the third quarter valued at approximately $125,000. Alyeska Investment Group L.P. acquired a new position in Kiora Pharmaceuticals in the fourth quarter valued at approximately $152,000. Finally, DRW Securities LLC increased its stake in Kiora Pharmaceuticals by 199.2% in the fourth quarter. DRW Securities LLC now owns 110,282 shares of the company’s stock valued at $217,000 after purchasing an additional 73,417 shares during the last quarter. Hedge funds and other institutional investors own 76.97% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Kiora Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.00.

Kiora Pharmaceuticals Price Performance

Shares of NASDAQ KPRX remained flat at $2.48 during mid-day trading on Wednesday. The stock had a trading volume of 13,552 shares, compared to its average volume of 254,390. The stock has a market cap of $10.99 million, a P/E ratio of -0.92 and a beta of -0.40. The business’s fifty day moving average price is $2.58 and its 200-day moving average price is $2.31. Kiora Pharmaceuticals has a twelve month low of $1.76 and a twelve month high of $3.29.

Kiora Pharmaceuticals (NASDAQ:KPRX) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.58) earnings per share for the quarter, hitting the consensus estimate of ($0.58).

Kiora Pharmaceuticals Company Profile

Kiora Pharmaceuticals, Inc (NASDAQ: KPRX) is a clinical-stage biotechnology company dedicated to developing innovative therapies for serious eye diseases. The company’s research efforts focus on modulating immune and neurological pathways in the eye to address conditions that currently have limited treatment options. Kiora’s approach combines small-molecule immunomodulators with advanced gene-based and optogenetic technologies to preserve and restore vision.

The company’s lead product candidate, KIO-100 (PP-001), is an intravitreal formulation designed to inhibit key inflammatory pathways implicated in non-infectious uveitis and other autoimmune ocular disorders.