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

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 218,549 shares, a growth of 236.8% from the June 15th total of 64,883 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 213,635 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wall Street Zen lowered KALA BIO from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $1,158.33.

Institutional Investors Weigh In On KALA BIO

Several hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in KALA BIO during the 4th quarter valued at $48,000. XTX Topco Ltd purchased a new stake in KALA BIO in the second quarter worth $62,000. Renaissance Technologies LLC increased its stake in KALA BIO by 920.7% in the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after purchasing an additional 376,612 shares during the period. Jane Street Group LLC purchased a new stake in KALA BIO in the fourth quarter worth $80,000. Finally, Geode Capital Management LLC lifted its position in shares of KALA BIO by 2.8% during 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. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

KALA BIO Trading Down 11.6%

KALA stock opened at $0.96 on Wednesday. The stock has a market cap of $17.91 million, a PE ratio of -0.01 and a beta of -2.35. KALA BIO has a 12 month low of $0.93 and a 12 month high of $1,030.00. The company has a 50-day moving average price of $2.45 and a 200 day moving average price of $12.92.

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

About KALA BIO

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.