KALA BIO, Inc. (NASDAQ:KALA) Short Interest Down 40.6% in December

KALA BIO, Inc. (NASDAQ:KALA) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 551,064 shares, a drop of 40.6% from the December 15th total of 928,449 shares. Currently, 5.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,744,159 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 1,744,159 shares, the days-to-cover ratio is presently 0.3 days. Currently, 5.7% of the company’s stock are sold short.

KALA BIO Trading Up 12.4%

Shares of KALA BIO stock traded up $0.07 during mid-day trading on Friday, reaching $0.68. 4,463,126 shares of the stock were exchanged, compared to its average volume of 2,121,241. The company has a market cap of $6.64 million, a price-to-earnings ratio of -0.11 and a beta of -2.43. KALA BIO has a fifty-two week low of $0.51 and a fifty-two week high of $20.60. The firm has a 50-day simple moving average of $0.70 and a 200 day simple moving average of $4.99.

KALA BIO (NASDAQ:KALA) last released its earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). On average, research analysts predict that KALA BIO will post -10.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Lifesci Capital downgraded shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. HC Wainwright reissued a “neutral” rating on shares of KALA BIO in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a research report on Monday, December 29th. LADENBURG THALM/SH SH downgraded KALA BIO from a “buy” rating to a “neutral” rating in a report on Monday, September 29th. Finally, Mizuho set a $1.50 price objective on shares of KALA BIO in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.38.

Insider Activity

In other news, Director Mark T. Iwicki sold 154,894 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $0.81, for a total transaction of $125,464.14. Following the completion of the transaction, the director directly owned 103,540 shares of the company’s stock, valued at approximately $83,867.40. This represents a 59.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Romulus K. Brazzell sold 46,748 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total value of $38,800.84. Following the completion of the sale, the insider owned 35,952 shares in the company, valued at $29,840.16. The trade was a 56.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 303,413 shares of company stock valued at $248,725. 2.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KALA BIO

Several hedge funds have recently bought and sold shares of KALA. XTX Topco Ltd acquired a new stake in KALA BIO in the 2nd quarter worth about $62,000. Geode Capital Management LLC increased its holdings in shares of KALA BIO by 2.8% during the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after purchasing an additional 1,534 shares during the period. AIGH Capital Management LLC lifted its position in shares of KALA BIO by 52.8% during the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock valued at $1,428,000 after acquiring an additional 103,650 shares during the period. Finally, Woodline Partners LP acquired a new stake in shares of KALA BIO during the 1st quarter worth $1,483,000. 24.61% of the stock is currently owned by institutional investors and hedge funds.

KALA BIO Company Profile

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.