Short Interest in Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) Declines By 53.5%

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 3,860 shares, a decrease of 53.5% from the July 15th total of 8,310 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 25,979 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Kiora Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.00.

Kiora Pharmaceuticals Stock Performance

Shares of Kiora Pharmaceuticals stock traded down $0.04 during trading hours on Friday, reaching $2.55. 41,172 shares of the company were exchanged, compared to its average volume of 18,071. Kiora Pharmaceuticals has a 1 year low of $1.76 and a 1 year high of $3.01. The stock’s fifty day moving average is $2.56 and its 200 day moving average is $2.38. The firm has a market cap of $11.28 million, a PE ratio of -1.02 and a beta of -0.38.

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

Hedge Funds Weigh In On Kiora Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP acquired a new position in shares of Kiora Pharmaceuticals during the third quarter worth about $33,000. Citadel Advisors LLC acquired a new stake in Kiora Pharmaceuticals in the third quarter valued at approximately $125,000. Renaissance Technologies LLC raised its holdings in Kiora Pharmaceuticals by 71.0% in the fourth quarter. Renaissance Technologies LLC now owns 21,200 shares of the company’s stock valued at $42,000 after acquiring an additional 8,800 shares in the last quarter. DRW Securities LLC lifted its stake in Kiora Pharmaceuticals by 199.2% in the fourth quarter. DRW Securities LLC now owns 110,282 shares of the company’s stock worth $217,000 after acquiring an additional 73,417 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Kiora Pharmaceuticals in the fourth quarter worth approximately $152,000. Hedge funds and other institutional investors own 76.97% of the company’s stock.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals, Inc (NASDAQ: KPRX) is a clinical-stage biotechnology company dedicated to developing innovative therapies for serious eye diseases. The company’s research efforts focus on modulating immune and neurological pathways in the eye to address conditions that currently have limited treatment options. Kiora’s approach combines small-molecule immunomodulators with advanced gene-based and optogenetic technologies to preserve and restore vision.

The company’s lead product candidate, KIO-100 (PP-001), is an intravitreal formulation designed to inhibit key inflammatory pathways implicated in non-infectious uveitis and other autoimmune ocular disorders.