KALA BIO, Inc. (NASDAQ:KALA) Short Interest Up 66.0% in May

KALA BIO, Inc. (NASDAQ:KALA) saw a large increase in short interest in May. As of May 29th, there was short interest totaling 70,709 shares, an increase of 66.0% from the May 14th total of 42,592 shares. Based on an average daily volume of 69,148 shares, the short-interest ratio is presently 1.0 days. Approximately 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On KALA BIO

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in shares of KALA BIO during the 2nd quarter worth $62,000. Geode Capital Management LLC raised 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 during the last quarter. Virtu Financial LLC purchased a new position in shares of KALA BIO in the fourth quarter worth about $48,000. Jane Street Group LLC purchased a new position in shares of KALA BIO in the fourth quarter worth about $80,000. Finally, Woodline Partners LP purchased a new position in shares of KALA BIO in the first quarter worth about $1,483,000. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KALA has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a report on Friday, March 27th. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $1,018.75.

KALA BIO Trading Down 7.0%

Shares of KALA traded down $0.22 during midday trading on Wednesday, reaching $2.92. 118,569 shares of the stock were exchanged, compared to its average volume of 116,102. KALA BIO has a 52 week low of $2.03 and a 52 week high of $1,030.00. The company’s 50 day moving average is $4.94 and its two-hundred day moving average is $18.12. The company has a market capitalization of $54.28 million, a P/E ratio of -0.03 and a beta of -2.40.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($8.50) by $8.36.

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.