Short Interest in KALA BIO, Inc. (NASDAQ:KALA) Drops By 21.8%

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 430,672 shares, a decrease of 21.8% from the December 31st total of 551,064 shares. Based on an average trading volume of 3,101,638 shares, the days-to-cover ratio is presently 0.1 days. Approximately 4.5% of the company’s shares are sold short. Approximately 4.5% of the company’s shares are sold short. Based on an average trading volume of 3,101,638 shares, the days-to-cover ratio is presently 0.1 days.

KALA BIO Stock Performance

Shares of NASDAQ:KALA traded down $0.01 during trading on Friday, hitting $0.53. The company’s stock had a trading volume of 498,350 shares, compared to its average volume of 2,096,703. The business has a 50 day moving average price of $0.68 and a two-hundred day moving average price of $4.63. KALA BIO has a fifty-two week low of $0.51 and a fifty-two week high of $20.60. The company has a market capitalization of $5.21 million, a PE ratio of -0.09 and a beta of -2.43.

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, equities analysts expect that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On KALA BIO

Large investors have recently bought and sold shares of the stock. AIGH Capital Management LLC increased its position in shares of KALA BIO by 52.8% during the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after purchasing an additional 103,650 shares in the last quarter. Woodline Partners LP acquired a new stake in KALA BIO during the 1st quarter worth $1,483,000. Geode Capital Management LLC boosted its stake 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 buying an additional 1,534 shares during the period. Finally, XTX Topco Ltd acquired a new stake in KALA BIO during the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

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.