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

KALA BIO, Inc. (NASDAQ:KALA) was the target of 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. Based on an average daily volume of 1,087,986 shares, the short-interest ratio is presently 0.5 days. Approximately 6.0% of the company’s shares are sold short. Approximately 6.0% of the company’s shares are sold short. Based on an average daily volume of 1,087,986 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analyst Weigh In

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

KALA BIO Stock Up 11.9%

Shares of KALA BIO stock traded up $0.04 during midday trading on Friday, hitting $0.41. The company’s stock had a trading volume of 791,902 shares, compared to its average volume of 951,364. KALA BIO has a 1-year low of $0.35 and a 1-year high of $20.60. The firm has a market capitalization of $4.00 million, a P/E ratio of -0.07 and a beta of -2.43. The stock has a 50-day simple moving average of $0.58 and a 200-day simple moving average of $4.20.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings data on Wednesday, November 19th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.06). As a group, sell-side analysts predict that KALA BIO will post -10.84 earnings per share for the current year.

Institutional Trading of KALA BIO

Several institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in KALA BIO during the second quarter valued at approximately $62,000. 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 valued at $268,000 after buying an additional 1,534 shares during the period. Jane Street Group LLC acquired a new stake in shares of KALA BIO during the 4th quarter valued at $80,000. Woodline Partners LP purchased a new position in shares of KALA BIO during the 1st quarter valued at $1,483,000. Finally, AIGH Capital Management LLC increased its stake in shares of KALA BIO by 52.8% in the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after acquiring an additional 103,650 shares during the last quarter. 24.61% of the stock is currently owned by institutional investors and hedge funds.

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.