KALA BIO, Inc. (NASDAQ:KALA) Stock Short Interest Falls 60.3%

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 539,414 shares, a decline of 60.3% from the September 30th total of 1,358,824 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 808,459 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of KALA BIO from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research note on Monday, September 21st. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in KALA BIO stock. BlackRock Inc. bought a new position in shares of KALA BIO, Inc. (NASDAQ:KALA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 71,542 shares of the company’s stock, valued at approximately $124,000. BlackRock Inc. owned 0.37% of KALA BIO at the end of the most recent quarter. 24.61% of the stock is currently owned by institutional investors and hedge funds.

KALA BIO Trading Down 5.5%

Shares of NASDAQ:KALA traded down $0.01 during trading on Friday, hitting $0.17. 232,390 shares of the company were exchanged, compared to its average volume of 553,706. The stock has a market cap of $3.20 million, a price-to-earnings ratio of -0.01 and a beta of -2.40. KALA BIO has a fifty-two week low of $0.11 and a fifty-two week high of $95.50. The firm has a fifty day moving average price of $0.45 and a two-hundred day moving average price of $7.20.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Wednesday, August 19th. The company reported ($21.32) EPS for the quarter, missing the consensus estimate of ($6.00) by ($15.32).

About KALA BIO

KALA BIO, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for rare and severe eye diseases. The company is centered on its mesenchymal stem cell secretome platform, which is designed to deliver multiple naturally occurring growth factors and proteins that may support tissue repair and reduce inflammation.

KALA BIO’s lead investigational product candidate, KPI-012, is being developed for the treatment of persistent corneal epithelial defects, a condition in which the surface of the cornea does not heal properly.