KALA BIO, Inc. (NASDAQ:KALA – Get Free Report) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 218,549 shares, an increase of 236.8% from the June 15th total of 64,883 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 213,635 shares, the short-interest ratio is currently 1.0 days.
Institutional Trading of KALA BIO
Several large investors have recently bought and sold shares of the company. Baker BROS. Advisors LP raised its holdings in KALA BIO by 83.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after purchasing an additional 818,962 shares in the last quarter. Renaissance Technologies LLC lifted its position in KALA BIO by 920.7% in the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock valued at $72,000 after acquiring an additional 376,612 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of KALA BIO during the first quarter valued at $1,483,000. Jane Street Group LLC bought a new stake in shares of KALA BIO in the fourth quarter worth approximately $80,000. Finally, Virtu Financial LLC bought a new stake in KALA BIO in the 4th quarter worth approximately $48,000. 24.61% of the stock is owned by institutional investors.
KALA BIO Stock Down 11.6%
Shares of KALA BIO stock traded down $0.13 during trading on Tuesday, reaching $0.96. The company’s stock had a trading volume of 234,065 shares, compared to its average volume of 129,675. The firm’s 50-day moving average is $2.54 and its two-hundred day moving average is $13.14. KALA BIO has a 52-week low of $0.93 and a 52-week high of $1,030.00. The company has a market cap of $17.91 million, a price-to-earnings ratio of -0.01 and a beta of -2.35.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on KALA shares. Wall Street Zen lowered KALA BIO from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1,158.33.
View Our Latest Stock Report on KALA
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.
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