KALA BIO, Inc. (NASDAQ:KALA) Sees Large Decline in Short Interest

KALA BIO, Inc. (NASDAQ:KALA) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 539,414 shares, a decline of 60.3% from the September 30th total of 1,358,824 shares. Currently, 2.9% of the shares of the company are short sold. Based on an average daily volume of 808,459 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KALA shares. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a report on Monday, September 21st. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, KALA BIO currently has a consensus rating of “Sell”.

KALA BIO Trading Down 5.5%

NASDAQ:KALA traded down $0.01 during trading hours on Friday, hitting $0.17. 239,695 shares of the company traded hands, compared to its average volume of 479,320. The stock has a market capitalization of $3.20 million, a price-to-earnings ratio of -0.01 and a beta of -2.40. KALA BIO has a twelve month low of $0.11 and a twelve month high of $95.50. The firm has a 50-day moving average of $0.44 and a 200 day moving average of $7.04.

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

Institutional Investors Weigh In On KALA BIO

An institutional investor recently raised its position in KALA BIO stock. Renaissance Technologies LLC increased its position in shares of KALA BIO, Inc. (NASDAQ:KALA) by 920.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 417,517 shares of the company’s stock after buying an additional 376,612 shares during the quarter. Renaissance Technologies LLC owned 2.25% of KALA BIO worth $72,000 at the end of the most recent quarter. Institutional investors own 24.61% of the company’s stock.

About KALA BIO

KALA BIO, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for rare and severe eye diseases. The company is centered on its mesenchymal stem cell secretome platform, which is designed to deliver multiple naturally occurring growth factors and proteins that may support tissue repair and reduce inflammation.

KALA BIO’s lead investigational product candidate, KPI-012, is being developed for the treatment of persistent corneal epithelial defects, a condition in which the surface of the cornea does not heal properly.