Short Interest in KALA BIO, Inc. (NASDAQ:KALA) Drops By 21.8%

KALA BIO, Inc. (NASDAQ:KALA) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 430,672 shares, a drop of 21.8% from the December 31st total of 551,064 shares. Currently, 4.5% of the shares of the stock are sold short. Based on an average daily volume of 3,101,638 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 3,101,638 shares, the short-interest ratio is presently 0.1 days. Currently, 4.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On KALA BIO

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in shares of KALA BIO during the 2nd quarter worth approximately $62,000. Geode Capital Management LLC grew its position in 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 acquiring an additional 1,534 shares during the period. Woodline Partners LP acquired a new stake in KALA BIO during the first quarter worth $1,483,000. Finally, AIGH Capital Management LLC raised its position in KALA BIO by 52.8% in the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock valued at $1,428,000 after purchasing an additional 103,650 shares during the period. 24.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.38.

KALA BIO Stock Down 1.9%

Shares of KALA BIO stock traded down $0.01 on Friday, hitting $0.53. 498,350 shares of the company were exchanged, compared to its average volume of 2,096,703. The company has a 50-day moving average price of $0.68 and a 200 day moving average price of $4.63. The stock has a market capitalization of $5.21 million, a price-to-earnings ratio of -0.09 and a beta of -2.43. KALA BIO has a 1-year low of $0.51 and a 1-year high of $20.60.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings data on Wednesday, November 19th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). Research analysts forecast that KALA BIO will post -10.84 EPS for the current year.

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.