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

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

Hedge Funds Weigh In On KALA BIO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of KALA BIO in the fourth quarter valued at $48,000. Baker BROS. Advisors LP raised its position in shares of KALA BIO by 83.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock valued at $1,003,000 after purchasing an additional 818,962 shares during the period. Jane Street Group LLC acquired a new stake in shares of KALA BIO during the 4th quarter worth about $80,000. XTX Topco Ltd acquired a new stake in shares of KALA BIO during the 2nd quarter worth about $62,000. Finally, Geode Capital Management LLC boosted its holdings 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 buying an additional 1,534 shares during the period. 24.61% of the stock is owned by institutional investors.

KALA BIO Trading Down 8.7%

NASDAQ:KALA traded down $0.02 on Tuesday, hitting $0.21. The company’s stock had a trading volume of 3,748,147 shares, compared to its average volume of 18,059,840. KALA BIO has a one year low of $0.21 and a one year high of $20.60. The firm has a market capitalization of $193.57 million, a P/E ratio of -0.04 and a beta of -2.37. The stock has a fifty day moving average of $0.42 and a two-hundred day moving average of $2.48.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of KALA BIO in a research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.38.

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.