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

KALA BIO, Inc. (NASDAQ:KALA) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 25,600 shares, an increase of 19.1% from the December 15th total of 21,500 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 34,800 shares, the short-interest ratio is currently 0.7 days.

KALA BIO Price Performance

Shares of NASDAQ:KALA traded up $0.24 on Friday, hitting $7.25. The company’s stock had a trading volume of 17,502 shares, compared to its average volume of 39,220. The company has a 50-day simple moving average of $6.69 and a 200 day simple moving average of $6.37. The company has a market capitalization of $33.42 million, a PE ratio of -0.58 and a beta of -2.11. The company has a debt-to-equity ratio of 3.18, a current ratio of 2.15 and a quick ratio of 2.15. KALA BIO has a 1 year low of $4.21 and a 1 year high of $8.89.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.43) by $0.50. Sell-side analysts forecast that KALA BIO will post -10.84 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Mark T. Iwicki sold 5,779 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $7.63, for a total value of $44,093.77. Following the sale, the chief executive officer now directly owns 280,076 shares of the company’s stock, valued at approximately $2,136,979.88. This represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Bros. Advisors Lp Baker acquired 310,559 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $6.44 per share, with a total value of $1,999,999.96. Following the completion of the transaction, the insider now directly owns 1,083,398 shares of the company’s stock, valued at $6,977,083.12. This trade represents a 40.18 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 9,506 shares of company stock valued at $72,531. Company insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On KALA BIO

A hedge fund recently bought a new stake in KALA BIO stock. SR One Capital Management LP purchased a new stake in shares of KALA BIO, Inc. (NASDAQ:KALA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 443,661 shares of the company’s stock, valued at approximately $3,146,000. KALA BIO accounts for approximately 1.0% of SR One Capital Management LP’s holdings, making the stock its 9th largest holding. SR One Capital Management LP owned about 15.76% of KALA BIO at the end of the most recent reporting period. 24.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of KALA BIO in a research report on Friday, November 15th.

About KALA BIO

KALA BIO, Inc, a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of innovative therapies for rare and severe eye diseases in the United States. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects.