Short Interest in KALA BIO, Inc. (NASDAQ:KALA) Decreases By 95.9%

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 42,592 shares, a decline of 95.9% from the April 30th total of 1,029,124 shares. Based on an average daily volume of 90,516 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KALA. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research note on Friday, March 27th. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research note on Sunday. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $1,018.75.

Hedge Funds Weigh In On KALA BIO

Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in KALA BIO during the fourth quarter worth $48,000. XTX Topco Ltd acquired a new position in KALA BIO during the second quarter worth $62,000. Renaissance Technologies LLC raised its position in KALA BIO by 920.7% during the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after acquiring an additional 376,612 shares during the period. Jane Street Group LLC acquired a new position in KALA BIO during the fourth quarter worth $80,000. Finally, Geode Capital Management LLC grew its holdings 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 buying an additional 1,534 shares in the last quarter. 24.61% of the stock is currently owned by institutional investors and hedge funds.

KALA BIO Stock Performance

Shares of KALA traded up $0.16 during trading hours on Wednesday, hitting $2.33. The stock had a trading volume of 45,983 shares, compared to its average volume of 80,065. The firm has a 50-day moving average price of $7.13 and a 200 day moving average price of $21.31. KALA BIO has a fifty-two week low of $2.10 and a fifty-two week high of $1,030.00. The firm has a market capitalization of $43.31 million, a price-to-earnings ratio of -0.02 and a beta of -2.23.

KALA BIO (NASDAQ:KALA) last posted its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate 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.