Short Interest in KALA BIO, Inc. (NASDAQ:KALA) Rises By 34.8%

KALA BIO, Inc. (NASDAQ:KALA) saw a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 580,625 shares, an increase of 34.8% from the January 15th total of 430,672 shares. Currently, 6.0% of the shares of the company are sold short. Based on an average daily trading volume, of 1,087,986 shares, the short-interest ratio is presently 0.5 days. Based on an average daily trading volume, of 1,087,986 shares, the short-interest ratio is presently 0.5 days. Currently, 6.0% of the shares of the company are sold short.

KALA BIO Stock Performance

Shares of KALA stock traded up $0.04 during mid-day trading on Friday, hitting $0.41. 791,902 shares of the stock traded hands, compared to its average volume of 951,364. KALA BIO has a twelve month low of $0.35 and a twelve month high of $20.60. The company’s 50-day simple moving average is $0.58 and its 200-day simple moving average is $4.20. The firm has a market cap of $4.00 million, a price-to-earnings ratio of -0.07 and a beta of -2.43.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.06). Analysts forecast that KALA BIO will post -10.84 earnings per share for the current year.

Institutional Trading of KALA BIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AIGH Capital Management LLC lifted its stake in KALA BIO by 52.8% during the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock valued at $1,428,000 after purchasing an additional 103,650 shares during the last quarter. Woodline Partners LP bought a new position in shares of KALA BIO in the first quarter valued at $1,483,000. Jane Street Group LLC acquired a new stake in shares of KALA BIO during the 4th quarter valued at $80,000. Geode Capital Management LLC boosted its stake in shares of KALA BIO by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after acquiring an additional 1,534 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of KALA BIO in the 2nd quarter worth $62,000. 24.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.38.

About KALA BIO

KALA Bio (NASDAQ: KALA) is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for ocular diseases. The company’s proprietary surface charge–based nanoparticle delivery platform is designed to enhance penetration and retention of therapeutic agents on the ocular surface. This technology is the basis for its lead product, Eysuvis (KPI-121 1.0%), an FDA-approved topical corticosteroid for short-term relief of ocular itching associated with allergic conjunctivitis.

Beyond its approved therapy, KALA Bio is advancing a pipeline of investigational drug candidates targeting inflammatory and degenerative eye conditions.