KALA BIO, Inc. (NASDAQ:KALA) Sees Large Growth in Short Interest

KALA BIO, Inc. (NASDAQ:KALA) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 25,600 shares, an increase of 19.1% from the December 15th total of 21,500 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 34,800 shares, the short-interest ratio is currently 0.7 days.

Insider Buying and Selling

In related news, major shareholder Bros. Advisors Lp Baker bought 310,559 shares of the business’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $6.44 per share, with a total value of $1,999,999.96. Following the transaction, the insider now owns 1,083,398 shares in the company, valued at approximately $6,977,083.12. This trade represents a 40.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark T. Iwicki sold 5,779 shares of KALA BIO stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $7.63, for a total transaction of $44,093.77. Following the completion of the sale, the chief executive officer now directly owns 280,076 shares of the company’s stock, valued at approximately $2,136,979.88. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,506 shares of company stock worth $72,531 in the last three months. Insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On KALA BIO

A hedge fund recently bought a new stake in KALA BIO stock. SR One Capital Management LP bought a new position in KALA BIO, Inc. (NASDAQ:KALA) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 443,661 shares of the company’s stock, valued at approximately $3,146,000. KALA BIO accounts for about 1.0% of SR One Capital Management LP’s holdings, making the stock its 9th largest holding. SR One Capital Management LP owned about 15.76% of KALA BIO at the end of the most recent quarter. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

KALA BIO Stock Performance

NASDAQ:KALA traded up $0.24 during trading hours on Friday, reaching $7.25. The company had a trading volume of 17,502 shares, compared to its average volume of 39,220. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 3.18. KALA BIO has a 52 week low of $4.21 and a 52 week high of $8.89. The firm has a market cap of $33.42 million, a price-to-earnings ratio of -0.58 and a beta of -2.11. The firm’s 50 day moving average price is $6.69 and its 200-day moving average price is $6.37.

KALA BIO (NASDAQ:KALA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.93) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.43) by $0.50. On average, analysts forecast that KALA BIO will post -10.84 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of KALA BIO in a research report on Friday, November 15th.

About KALA BIO

KALA BIO, Inc, a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of innovative therapies for rare and severe eye diseases in the United States. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects.