Short Interest in KALA BIO, Inc. (NASDAQ:KALA) Rises By 57.9%

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

KALA BIO Trading Up 8.2%

Shares of KALA BIO stock traded up $0.04 on Thursday, hitting $0.56. 123,010 shares of the company traded hands, compared to its average volume of 196,253. The firm’s 50-day simple moving average is $0.75 and its 200 day simple moving average is $4.61. The company has a market cap of $10.92 million, a P/E ratio of -0.02 and a beta of -2.28. KALA BIO has a 12-month low of $0.49 and a 12-month high of $993.95.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on KALA shares. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of KALA BIO in a research report on Wednesday, June 24th. Four equities research 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.com, the company presently has a consensus rating of “Reduce” and an average price target of $75.00.

Institutional Trading of KALA BIO

Institutional investors have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP boosted its holdings in KALA BIO by 83.1% during the 4th 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 period. Renaissance Technologies LLC increased its stake in KALA BIO by 920.7% in the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after purchasing an additional 376,612 shares during the period. Finally, BlackRock Inc. bought a new stake in KALA BIO in the second quarter valued at approximately $124,000. 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.