Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) Stock Short Interest Jumps 1,248.6%

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) was the target of a significant increase in short interest in October. As of October 30th, there was short interest totaling 56,588 shares, an increase of 1,248.6% from the October 15th total of 4,196 shares. Based on an average trading volume of 67,008 shares, the short-interest ratio is presently 0.8 days. Currently, 1.3% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Kiora Pharmaceuticals in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Kiora Pharmaceuticals Price Performance

NASDAQ:KPRX traded down $0.13 during mid-day trading on Tuesday, hitting $1.38. 22,770 shares of the company’s stock traded hands, compared to its average volume of 63,740. The firm has a 50 day moving average of $2.35 and a two-hundred day moving average of $2.39. Kiora Pharmaceuticals has a 12 month low of $1.37 and a 12 month high of $2.91.

Kiora Pharmaceuticals (NASDAQ:KPRX) last released its earnings results on Friday, August 7th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.13.

Institutional Trading of Kiora Pharmaceuticals

An institutional investor recently bought a new stake in Kiora Pharmaceuticals stock. ADAR1 Capital Management LLC bought a new stake in Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 167,941 shares of the company’s stock, valued at approximately $442,000. ADAR1 Capital Management LLC owned about 3.80% of Kiora Pharmaceuticals at the end of the most recent quarter. 76.97% of the stock is owned by institutional investors.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals, Inc. is a clinical-stage biotechnology company focused on developing therapies for diseases of the eye. The company’s research programs are aimed at addressing conditions with limited treatment options, including inherited retinal diseases and inflammatory eye disorders. Kiora’s lead program, KIO-301, is an investigational small-molecule therapy designed to function as a molecular photoswitch. The company is studying its potential to restore light perception in patients with vision loss caused by retinal degeneration, including retinitis pigmentosa.