Short Interest in Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) Decreases By 55.4%

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 18,000 shares, a decrease of 55.4% from the June 30th total of 40,400 shares. Based on an average daily volume of 35,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.7% of the shares of the company are sold short.

Insider Activity

In related news, Director Erin Parsons bought 5,260 shares of Kiora Pharmaceuticals stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $4.88 per share, with a total value of $25,668.80. Following the acquisition, the director now owns 5,260 shares of the company’s stock, valued at approximately $25,668.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 9,791 shares of company stock valued at $48,764 over the last ninety days. 0.94% of the stock is currently owned by company insiders.

Institutional Trading of Kiora Pharmaceuticals

An institutional investor recently bought a new position in Kiora Pharmaceuticals stock. Rosalind Advisors Inc. purchased a new stake in Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,300,000 shares of the company’s stock, valued at approximately $1,624,000. Kiora Pharmaceuticals accounts for about 1.5% of Rosalind Advisors Inc.’s holdings, making the stock its 22nd largest position. Rosalind Advisors Inc. owned 8.76% of Kiora Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 76.97% of the stock is currently owned by institutional investors.

Kiora Pharmaceuticals Price Performance

Shares of Kiora Pharmaceuticals stock traded up $0.01 during trading on Friday, reaching $4.70. 6,850 shares of the company’s stock were exchanged, compared to its average volume of 29,429. The firm’s 50-day moving average price is $5.21 and its 200 day moving average price is $5.30. Kiora Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $8.98.

Kiora Pharmaceuticals (NASDAQ:KPRX) last released its quarterly earnings data on Friday, May 10th. The company reported $3.42 earnings per share for the quarter, missing the consensus estimate of $5.58 by ($2.16). The company had revenue of $16.00 million during the quarter, compared to the consensus estimate of $16.00 million. On average, sell-side analysts expect that Kiora Pharmaceuticals will post 0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KPRX shares. HC Wainwright boosted their target price on shares of Kiora Pharmaceuticals from $2.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Maxim Group upgraded shares of Kiora Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, June 13th.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals, Inc, a clinical-stage specialty pharmaceutical company, develops and commercializes therapies for the treatment of ophthalmic diseases in the United States. Its lead product is KIO-301, a potential vision-restoring small molecule, which is in Phase 1b clinical trial that acts as a photoswitch to restore vision in patients with inherited and age-related degenerative retinal diseases.