KALA BIO, Inc. (NASDAQ:KALA) Short Interest Update

KALA BIO, Inc. (NASDAQ:KALA) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 975,765 shares, a growth of 48.5% from the February 12th total of 657,248 shares. Based on an average daily volume of 374,308 shares, the days-to-cover ratio is presently 2.6 days. Currently, 0.1% of the shares of the company are short sold. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 374,308 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.38.

Hedge Funds Weigh In On KALA BIO

Several large investors have recently made changes to their positions in the business. Woodline Partners LP bought a new position in shares of KALA BIO during the 1st quarter valued at about $1,483,000. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 1,534 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of KALA BIO in the 4th quarter worth approximately $80,000. XTX Topco Ltd acquired a new stake in KALA BIO during the second quarter valued at approximately $62,000. Finally, Virtu Financial LLC acquired a new stake in KALA BIO during the fourth quarter valued at approximately $48,000. Institutional investors own 24.61% of the company’s stock.

KALA BIO Stock Down 5.7%

Shares of KALA stock opened at $0.28 on Monday. The stock has a 50-day simple moving average of $0.47 and a 200 day simple moving average of $3.10. The stock has a market capitalization of $255.17 million, a P/E ratio of -0.05 and a beta of -2.37. KALA BIO has a fifty-two week low of $0.23 and a fifty-two week high of $20.60.

KALA BIO Company Profile

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.