Short Interest in KALA BIO, Inc. (NASDAQ:KALA) Increases By 236.8%

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 218,549 shares, a growth of 236.8% from the June 15th total of 64,883 shares. Based on an average daily volume of 213,635 shares, the short-interest ratio is currently 1.0 days. Approximately 1.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several brokerages recently issued reports on KALA. Wall Street Zen cut KALA BIO from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. One equities research 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1,158.33.

KALA BIO Price Performance

Shares of NASDAQ:KALA opened at $1.18 on Monday. KALA BIO has a 52-week low of $1.16 and a 52-week high of $1,030.00. The stock’s fifty day simple moving average is $2.62 and its 200-day simple moving average is $13.33. The company has a market capitalization of $21.84 million, a P/E ratio of -0.01 and a beta of -2.35.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($8.50) by $8.36.

Hedge Funds Weigh In On KALA BIO

Several institutional investors and hedge funds have recently modified their holdings of KALA. XTX Topco Ltd purchased a new stake in KALA BIO in the 2nd quarter worth approximately $62,000. Geode Capital Management LLC raised its holdings in KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after acquiring an additional 1,534 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of KALA BIO during the 4th quarter worth $48,000. Jane Street Group LLC purchased a new position in shares of KALA BIO during the 4th quarter worth $80,000. Finally, Woodline Partners LP acquired a new stake in shares of KALA BIO during the first quarter worth $1,483,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

KALA BIO Company Profile

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.