KALA BIO, Inc. (NASDAQ:KALA) Sees Large Growth in Short Interest

KALA BIO, Inc. (NASDAQ:KALA) saw a large 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 stock are sold short. Based on an average trading volume of 1,087,986 shares, the short-interest ratio is currently 0.5 days. Based on an average trading volume of 1,087,986 shares, the short-interest ratio is currently 0.5 days. Currently, 6.0% of the shares of the stock are sold short.

KALA BIO Price Performance

Shares of NASDAQ:KALA traded up $0.04 during midday trading on Monday, reaching $0.41. 791,902 shares of the company’s stock were exchanged, compared to its average volume of 766,400. The stock has a market cap of $4.00 million, a price-to-earnings ratio of -0.07 and a beta of -2.43. KALA BIO has a fifty-two week low of $0.35 and a fifty-two week high of $20.60. The firm’s 50 day simple moving average is $0.58 and its two-hundred day simple moving average is $4.18.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of KALA BIO in the second quarter valued at $62,000. Jane Street Group LLC acquired a new position in KALA BIO in the 4th quarter valued at about $80,000. Geode Capital Management LLC grew its position in KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after acquiring an additional 1,534 shares in the last quarter. AIGH Capital Management LLC increased 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 worth $1,428,000 after purchasing an additional 103,650 shares during the period. Finally, Woodline Partners LP acquired a new stake in shares of KALA BIO during the first quarter worth about $1,483,000. 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.