KALA BIO, Inc. (NASDAQ:KALA) Short Interest Up 34.8% in January

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 580,625 shares, a growth of 34.8% from the January 15th total of 430,672 shares. Approximately 6.0% of the shares of the stock are sold short. Based on an average daily volume of 1,087,986 shares, the short-interest ratio is presently 0.5 days. 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 shares of the stock are sold short.

Institutional Investors Weigh In On KALA BIO

Several hedge funds have recently made changes to their positions in KALA. Woodline Partners LP purchased a new position in KALA BIO during the 1st quarter worth approximately $1,483,000. Jane Street Group LLC acquired a new stake in shares of KALA BIO in the fourth quarter worth $80,000. AIGH Capital Management LLC boosted its position 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 buying an additional 103,650 shares during the period. XTX Topco Ltd purchased a new position in shares of KALA BIO during the second quarter valued at $62,000. Finally, Geode Capital Management LLC raised its position in KALA BIO by 2.8% during the second 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. Hedge funds and other institutional investors own 24.61% of the company’s stock.

KALA BIO Trading Down 2.1%

Shares of NASDAQ KALA traded down $0.01 during mid-day trading on Tuesday, reaching $0.40. The company had a trading volume of 634,536 shares, compared to its average volume of 1,673,830. The company has a 50-day moving average price of $0.58 and a two-hundred day moving average price of $4.14. The stock has a market cap of $3.91 million, a PE ratio of -0.07 and a beta of -2.43. KALA BIO has a 1-year low of $0.35 and a 1-year high of $20.60.

KALA BIO (NASDAQ:KALA) last released 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). On average, research analysts expect that KALA BIO will post -10.84 EPS for the current year.

Analysts Set New Price Targets

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

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.