KALA BIO, Inc. (NASDAQ:KALA) Short Interest Update

KALA BIO, Inc. (NASDAQ:KALA) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 403,121 shares, an increase of 57.9% from the August 15th total of 255,232 shares. Based on an average daily volume of 286,651 shares, the short-interest ratio is presently 1.4 days. Currently, 2.1% of the shares of the stock are sold short.

KALA BIO Price Performance

NASDAQ KALA opened at $0.56 on Friday. The company has a market cap of $10.92 million, a PE ratio of -0.02 and a beta of -2.28. The stock’s 50 day simple moving average is $0.74 and its 200-day simple moving average is $4.48. KALA BIO has a 1-year low of $0.49 and a 1-year high of $993.95.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings results on Wednesday, August 19th. The company reported ($21.32) EPS for the quarter, missing the consensus estimate of ($6.00) by ($15.32).

Analyst Ratings Changes

A number of brokerages have recently issued reports on KALA. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. Wall Street Zen raised shares of KALA BIO from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $75.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KALA. BlackRock Inc. acquired a new position in shares of KALA BIO in the 2nd quarter valued at $124,000. Renaissance Technologies LLC lifted its position in KALA BIO by 920.7% in the first quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock valued at $72,000 after acquiring an additional 376,612 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its position in KALA BIO by 83.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after acquiring an additional 818,962 shares during the last quarter. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

About KALA BIO

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.