KALA BIO, Inc. (NASDAQ:KALA) Short Interest Down 46.8% in October

KALA BIO, Inc. (NASDAQ:KALA) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 893,200 shares, a decline of 46.8% from the September 30th total of 1,680,000 shares. Currently, 14.9% of the shares of the stock are short sold. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is currently 0.8 days. Currently, 14.9% of the shares of the stock are short sold.

Insider Buying and Selling at KALA BIO

In other news, Director Todd Bazemore sold 47,768 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total transaction of $39,647.44. Following the completion of the sale, the director owned 35,932 shares of the company’s stock, valued at $29,823.56. The trade was a 57.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bros. Advisors Lp Baker sold 513,607 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1.38, for a total transaction of $708,777.66. Following the sale, the insider directly owned 46,480 shares of the company’s stock, valued at $64,142.40. This represents a 91.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,033,821 shares of company stock valued at $1,304,385. Corporate insiders own 8.32% of the company’s stock.

Institutional Trading of KALA BIO

A number of large investors have recently bought and sold shares of the business. AIGH Capital Management LLC boosted its stake in KALA BIO by 52.8% during the 2nd quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock worth $1,428,000 after purchasing an additional 103,650 shares during the period. ADAR1 Capital Management LLC boosted its stake in KALA BIO by 35.7% during the 1st quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock worth $1,713,000 after purchasing an additional 78,582 shares during the period. Woodline Partners LP acquired a new stake in KALA BIO during the 1st quarter worth $1,483,000. Geode Capital Management LLC boosted its stake in KALA BIO by 2.8% during the 2nd 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 period. Finally, Readystate Asset Management LP acquired a new stake in KALA BIO during the 1st quarter worth $243,000. Institutional investors and hedge funds own 24.61% of the company’s stock.

KALA BIO Trading Down 5.4%

Shares of NASDAQ:KALA opened at $0.76 on Friday. KALA BIO has a 52 week low of $0.75 and a 52 week high of $20.60. The company’s 50 day moving average is $8.40 and its two-hundred day moving average is $6.21. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 3.19. The company has a market cap of $5.31 million, a PE ratio of -0.11 and a beta of -2.10.

KALA BIO (NASDAQ:KALA) last announced its quarterly earnings data on Friday, August 8th. The company reported ($1.71) EPS for the quarter, beating analysts’ consensus estimates of ($1.82) by $0.11. Equities analysts predict that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. HC Wainwright reiterated a “neutral” rating on shares of KALA BIO in a report on Monday, September 29th. LADENBURG THALM/SH SH lowered shares of KALA BIO from a “buy” rating to a “neutral” rating in a report on Monday, September 29th. Mizuho set a $1.50 price objective on shares of KALA BIO in a report on Tuesday, September 30th. Weiss Ratings restated a “sell (d-)” rating on shares of KALA BIO in a report on Wednesday, October 8th. Finally, Lifesci Capital lowered shares of KALA BIO from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.38.

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.