Short Interest in KALA BIO, Inc. (NASDAQ:KALA) Drops By 95.9%

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 42,592 shares, a drop of 95.9% from the April 30th total of 1,029,124 shares. Based on an average daily volume of 90,516 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several research 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 report on Sunday, May 24th. Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1,018.75.

KALA BIO Price Performance

Shares of NASDAQ:KALA traded down $0.06 during mid-day trading on Friday, hitting $2.23. The company had a trading volume of 60,682 shares, compared to its average volume of 78,436. The firm has a fifty day moving average price of $6.72 and a 200 day moving average price of $20.95. The company has a market capitalization of $41.46 million, a PE ratio of -0.02 and a beta of -2.23. KALA BIO has a one year low of $2.10 and a one year high of $1,030.00.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($8.50) by $8.36.

Institutional Trading of KALA BIO

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of KALA BIO in the 2nd quarter valued at $62,000. Geode Capital Management LLC grew its position in KALA BIO by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 56,367 shares of the company’s stock valued at $268,000 after purchasing an additional 1,534 shares during the period. Virtu Financial LLC acquired a new stake in KALA BIO in the 4th quarter valued at $48,000. Jane Street Group LLC acquired a new stake in KALA BIO in the 4th quarter valued at $80,000. Finally, Woodline Partners LP acquired a new stake in KALA BIO in the 1st quarter valued at $1,483,000. Institutional investors own 24.61% of the company’s stock.

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.