Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) Sees Large Drop in Short Interest

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 8,673 shares, a drop of 35.7% from the January 29th total of 13,496 shares. Based on an average daily volume of 61,109 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the shares of the stock are sold short. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 61,109 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Kiora Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. purchased a new position in shares of Kiora Pharmaceuticals in the 4th quarter valued at approximately $152,000. DRW Securities LLC increased its stake in Kiora Pharmaceuticals by 199.2% during the 4th quarter. DRW Securities LLC now owns 110,282 shares of the company’s stock valued at $217,000 after purchasing an additional 73,417 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Kiora Pharmaceuticals by 71.0% in the fourth quarter. Renaissance Technologies LLC now owns 21,200 shares of the company’s stock worth $42,000 after buying an additional 8,800 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Kiora Pharmaceuticals during the third quarter worth $125,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Kiora Pharmaceuticals during the third quarter worth $33,000. Hedge funds and other institutional investors own 76.97% of the company’s stock.

Kiora Pharmaceuticals Price Performance

NASDAQ KPRX traded down $0.01 on Friday, hitting $2.09. The stock had a trading volume of 6,175 shares, compared to its average volume of 48,069. The business’s fifty day moving average price is $2.12 and its 200 day moving average price is $2.33. The stock has a market cap of $7.69 million, a price-to-earnings ratio of -1.00 and a beta of -0.82. Kiora Pharmaceuticals has a 52-week low of $1.76 and a 52-week high of $4.18.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Kiora Pharmaceuticals in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.00.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals, Inc (NASDAQ: KPRX) is a clinical-stage biotechnology company dedicated to developing innovative therapies for serious eye diseases. The company’s research efforts focus on modulating immune and neurological pathways in the eye to address conditions that currently have limited treatment options. Kiora’s approach combines small-molecule immunomodulators with advanced gene-based and optogenetic technologies to preserve and restore vision.

The company’s lead product candidate, KIO-100 (PP-001), is an intravitreal formulation designed to inhibit key inflammatory pathways implicated in non-infectious uveitis and other autoimmune ocular disorders.