Short Interest in KALA BIO, Inc. (NASDAQ:KALA) Rises By 57.9%

KALA BIO, Inc. (NASDAQ:KALA) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 403,121 shares, a growth of 57.9% from the August 15th total of 255,232 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily volume of 286,651 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen raised KALA BIO from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a report on Wednesday, June 24th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $75.00.

KALA BIO Price Performance

Shares of KALA stock traded up $0.04 during trading hours on Thursday, reaching $0.56. The company had a trading volume of 123,010 shares, compared to its average volume of 196,253. The company has a market cap of $10.92 million, a price-to-earnings ratio of -0.02 and a beta of -2.28. KALA BIO has a 12 month low of $0.49 and a 12 month high of $993.95. The business has a fifty day simple moving average of $0.75 and a 200-day simple moving average of $4.61.

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

Institutional Trading of KALA BIO

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in KALA BIO in the 2nd quarter worth approximately $124,000. Renaissance Technologies LLC lifted its position in shares of KALA BIO by 920.7% during the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after acquiring an additional 376,612 shares in the last quarter. Finally, Baker BROS. Advisors LP lifted its position in shares of KALA BIO by 83.1% during the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after acquiring an additional 818,962 shares in the last quarter. Institutional investors own 24.61% of the company’s stock.

KALA BIO Company Profile

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.