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

KALA BIO, Inc. (NASDAQ:KALA) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 928,449 shares, a decline of 57.8% from the November 30th total of 2,200,568 shares. Based on an average trading volume of 35,111,322 shares, the days-to-cover ratio is presently 0.0 days. Currently, 10.3% of the shares of the company are short sold. Currently, 10.3% of the shares of the company are short sold. Based on an average trading volume of 35,111,322 shares, the days-to-cover ratio is presently 0.0 days.

KALA BIO Trading Up 1.5%

Shares of NASDAQ KALA traded up $0.01 during midday trading on Friday, reaching $0.65. 926,361 shares of the stock were exchanged, compared to its average volume of 20,554,490. The stock has a 50 day moving average price of $0.76 and a 200-day moving average price of $5.38. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 3.19. The company has a market capitalization of $6.39 million, a P/E ratio of -0.11 and a beta of -2.50. KALA BIO has a 52-week low of $0.51 and a 52-week high of $20.60.

KALA BIO (NASDAQ:KALA) last announced its earnings results on Wednesday, November 19th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.06). Equities research analysts expect that KALA BIO will post -10.84 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Bros. Advisors Lp Baker sold 513,607 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1.38, for a total value of $708,777.66. Following the completion of the sale, the insider directly owned 46,480 shares of the company’s stock, valued at $64,142.40. This trade represents a 91.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mary Reumuth sold 32,230 shares of KALA BIO stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $0.83, for a total value of $26,750.90. Following the completion of the sale, the chief financial officer owned 29,873 shares in the company, valued at approximately $24,794.59. This trade represents a 51.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,033,821 shares of company stock valued at $1,304,385 over the last ninety days. 8.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KALA BIO

A number of institutional investors and hedge funds have recently bought and sold shares of KALA. AIGH Capital Management LLC grew its position in KALA BIO by 52.8% in the second quarter. AIGH Capital Management LLC now owns 300,000 shares of the company’s stock valued at $1,428,000 after acquiring an additional 103,650 shares in the last quarter. ADAR1 Capital Management LLC grew its holdings in KALA BIO by 35.7% during the 1st quarter. ADAR1 Capital Management LLC now owns 298,955 shares of the company’s stock valued at $1,713,000 after purchasing an additional 78,582 shares in the last quarter. Woodline Partners LP purchased a new stake in KALA BIO during the 1st quarter worth $1,483,000. Geode Capital Management LLC lifted 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 worth $268,000 after buying an additional 1,534 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in KALA BIO in the 2nd quarter valued at about $62,000. Hedge funds and other institutional investors own 24.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KALA. HC Wainwright reiterated a “neutral” rating on shares of KALA BIO in a research report on Monday, September 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research note on Monday, December 22nd. Mizuho set a $1.50 price objective on shares of KALA BIO in a report on Tuesday, September 30th. Oppenheimer increased their target price on shares of KALA BIO from $15.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 11th. Finally, LADENBURG THALM/SH SH downgraded shares of KALA BIO from a “buy” rating to a “neutral” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.38.

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.