KALA BIO, Inc. (NASDAQ:KALA) Short Interest Up 600.0% in March

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 6,830,724 shares, an increase of 600.0% from the February 26th total of 975,765 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average trading volume of 32,644,607 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 32,644,607 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.8% of the shares of the company are sold short.

KALA BIO Stock Down 8.7%

Shares of KALA traded down $0.02 during midday trading on Tuesday, reaching $0.21. 3,748,147 shares of the stock were exchanged, compared to its average volume of 18,059,840. KALA BIO has a twelve month low of $0.21 and a twelve month high of $20.60. The company has a market cap of $193.57 million, a P/E ratio of -0.04 and a beta of -2.37. The stock’s 50 day simple moving average is $0.42 and its 200 day simple moving average is $2.48.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.38.

Hedge Funds Weigh In On KALA BIO

A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in KALA BIO in the 2nd quarter worth about $62,000. Geode Capital Management LLC grew its position in shares of KALA BIO by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock worth $268,000 after purchasing an additional 1,534 shares in the last quarter. Virtu Financial LLC bought a new position in shares of KALA BIO during the fourth quarter worth approximately $48,000. Jane Street Group LLC bought a new position in shares of KALA BIO during the fourth quarter worth approximately $80,000. Finally, Woodline Partners LP acquired a new stake in shares of KALA BIO in the first quarter valued at approximately $1,483,000. 24.61% of the stock is owned by 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.