KALA BIO, Inc. (NASDAQ:KALA) Stock Short Interest Report for October

KALA BIO, Inc. (NASDAQ:KALA) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 539,414 shares, a drop of 60.3% from the September 30th total of 1,358,824 shares. Based on an average daily volume of 808,459 shares, the short-interest ratio is presently 0.7 days. Currently, 2.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KALA shares. Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research note on Monday, September 21st. Wall Street Zen raised shares of KALA BIO from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has a consensus rating of “Sell”.

KALA BIO Stock Performance

KALA BIO stock opened at $0.18 on Thursday. KALA BIO has a 52 week low of $0.11 and a 52 week high of $95.50. The firm has a market capitalization of $3.48 million, a PE ratio of -0.01 and a beta of -2.40. The business’s 50-day simple moving average is $0.47 and its 200-day simple moving average is $7.35.

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

Hedge Funds Weigh In On KALA BIO

A hedge fund recently bought a new position in KALA BIO stock. BlackRock Inc. purchased a new stake in KALA BIO, Inc. (NASDAQ:KALA) during the second quarter, according to its most recent filing with the SEC. The firm purchased 71,542 shares of the company’s stock, valued at approximately $124,000. BlackRock Inc. owned 0.37% of KALA BIO at the end of the most recent quarter. 24.61% of the stock is currently owned by institutional investors.

About KALA BIO

KALA BIO, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for rare and severe eye diseases. The company is centered on its mesenchymal stem cell secretome platform, which is designed to deliver multiple naturally occurring growth factors and proteins that may support tissue repair and reduce inflammation.

KALA BIO’s lead investigational product candidate, KPI-012, is being developed for the treatment of persistent corneal epithelial defects, a condition in which the surface of the cornea does not heal properly.