KALA BIO, Inc. (NASDAQ:KALA) Stock Short Interest Declines 60.3%

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 539,414 shares, a decline of 60.3% from the September 30th total of 1,358,824 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 808,459 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KALA. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research note on Monday, September 21st. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

KALA BIO Stock Up 2.3%

NASDAQ:KALA opened at $0.18 on Thursday. KALA BIO has a 12-month low of $0.11 and a 12-month high of $95.50. The firm has a market capitalization of $3.48 million, a PE ratio of -0.01 and a beta of -2.40. The firm has a 50-day moving average price of $0.47 and a 200 day moving average price of $7.35.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Wednesday, August 19th. The company reported ($21.32) EPS for the quarter, missing the consensus estimate of ($6.00) by ($15.32).

Institutional Investors Weigh In On KALA BIO

A hedge fund recently bought a new stake in KALA BIO stock. BlackRock Inc. acquired a new stake in KALA BIO, Inc. (NASDAQ:KALA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 71,542 shares of the company’s stock, valued at approximately $124,000. BlackRock Inc. owned approximately 0.37% of KALA BIO as of its most recent SEC filing. 24.61% of the stock is owned by hedge funds and other institutional investors.

About KALA BIO

KALA BIO, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for rare and severe eye diseases. The company is centered on its mesenchymal stem cell secretome platform, which is designed to deliver multiple naturally occurring growth factors and proteins that may support tissue repair and reduce inflammation.

KALA BIO’s lead investigational product candidate, KPI-012, is being developed for the treatment of persistent corneal epithelial defects, a condition in which the surface of the cornea does not heal properly.