KALA BIO, Inc. (NASDAQ:KALA – Get Free Report) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 295,200 shares, a growth of 2,086.7% from the June 15th total of 13,500 shares. Based on an average trading volume of 228,300 shares, the days-to-cover ratio is presently 1.3 days. Currently, 12.8% of the company’s shares are short sold.
Analysts Set New Price Targets
Several equities research analysts have weighed in on KALA shares. Oppenheimer reiterated an “outperform” rating and issued a $15.00 price objective on shares of KALA BIO in a report on Monday, April 1st. HC Wainwright decreased their target price on KALA BIO from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, May 17th.
Get Our Latest Stock Report on KALA
KALA BIO Stock Down 2.5 %
KALA BIO (NASDAQ:KALA – Get Free Report) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($4.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.89) by ($1.31). Analysts anticipate that KALA BIO will post -14.49 EPS for the current fiscal year.
Insider Activity at KALA BIO
In related news, CEO Mark T. Iwicki sold 7,392 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $6.09, for a total transaction of $45,017.28. Following the completion of the sale, the chief executive officer now directly owns 278,923 shares in the company, valued at approximately $1,698,641.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mark T. Iwicki sold 7,392 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $6.09, for a total transaction of $45,017.28. Following the completion of the sale, the chief executive officer now directly owns 278,923 shares in the company, valued at approximately $1,698,641.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark T. Iwicki sold 15,168 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $4.75, for a total value of $72,048.00. Following the sale, the chief executive officer now owns 263,755 shares of the company’s stock, valued at $1,252,836.25. The disclosure for this sale can be found here. Insiders sold 35,255 shares of company stock worth $182,564 in the last ninety days. 13.40% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in KALA BIO stock. Knights of Columbus Asset Advisors LLC boosted its stake in shares of KALA BIO, Inc. (NASDAQ:KALA – Free Report) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,834 shares of the company’s stock after buying an additional 2,417 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.18% of KALA BIO worth $34,000 at the end of the most recent reporting period. 24.61% of the stock is owned by hedge funds and other institutional investors.
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.
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