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

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

Hedge Funds Weigh In On KALA BIO

A number of large investors have recently bought and sold shares of KALA. Virtu Financial LLC purchased a new position in KALA BIO during the 4th quarter worth $48,000. XTX Topco Ltd purchased a new position in KALA BIO during the 2nd quarter worth $62,000. Renaissance Technologies LLC raised its position in KALA BIO by 920.7% during the 1st quarter. Renaissance Technologies LLC now owns 417,517 shares of the company’s stock worth $72,000 after buying an additional 376,612 shares during the last quarter. Jane Street Group LLC purchased a new position in KALA BIO during the 4th quarter worth $80,000. Finally, Geode Capital Management LLC raised its position in 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 buying an additional 1,534 shares during the last quarter. Hedge funds and other institutional investors own 24.61% of the company’s stock.

KALA BIO Trading Up 0.8%

KALA stock traded up $0.02 on Thursday, hitting $2.35. The company’s stock had a trading volume of 15,133 shares, compared to its average volume of 115,865. The firm has a 50 day moving average of $7.13 and a two-hundred day moving average of $21.31. KALA BIO has a 1 year low of $2.10 and a 1 year high of $1,030.00. The stock has a market cap of $43.67 million, a price-to-earnings ratio of -0.02 and a beta of -2.23.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KALA. Weiss Ratings restated a “sell (e+)” rating on shares of KALA BIO in a research report on Friday, March 27th. Wall Street Zen upgraded shares of KALA BIO from a “sell” rating to a “hold” rating in a research report on Sunday. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1,018.75.

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.