KALA BIO, Inc. (NASDAQ:KALA) Short Interest Update

KALA BIO, Inc. (NASDAQ:KALA) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 6,830,724 shares, a growth of 600.0% from the February 26th total of 975,765 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 32,644,607 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 32,644,607 shares, the short-interest ratio is presently 0.2 days. Approximately 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.38.

KALA BIO Trading Down 8.7%

Shares of NASDAQ KALA opened at $0.21 on Wednesday. The stock has a fifty day simple moving average of $0.42 and a two-hundred day simple moving average of $2.48. KALA BIO has a 1-year low of $0.21 and a 1-year high of $20.60. The firm has a market cap of $193.57 million, a price-to-earnings ratio of -0.04 and a beta of -2.37.

Institutional Investors Weigh In On KALA BIO

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in KALA BIO in the 4th quarter valued at about $48,000. XTX Topco Ltd bought a new position in KALA BIO during the second quarter worth about $62,000. Jane Street Group LLC purchased a new position in shares of KALA BIO in the fourth quarter worth about $80,000. Geode Capital Management LLC increased its stake in shares of KALA BIO by 2.8% in the second quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after purchasing an additional 1,534 shares in the last quarter. Finally, Baker BROS. Advisors LP raised its position in shares of KALA BIO by 83.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after purchasing an additional 818,962 shares during the period. Hedge funds and other 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.