Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) Shares Shorted: Short Interest Up 1,248.6% in October

Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) saw a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 56,588 shares, an increase of 1,248.6% from the October 15th total of 4,196 shares. Based on an average daily trading volume, of 67,008 shares, the short-interest ratio is currently 0.8 days. Approximately 1.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kiora Pharmaceuticals in a report on Monday, October 12th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On Kiora Pharmaceuticals

A hedge fund recently bought a new stake in Kiora Pharmaceuticals stock. ADAR1 Capital Management LLC purchased a new stake in shares of Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 167,941 shares of the company’s stock, valued at approximately $442,000. ADAR1 Capital Management LLC owned 3.80% of Kiora Pharmaceuticals as of its most recent filing with the SEC. Institutional investors own 76.97% of the company’s stock.

Kiora Pharmaceuticals Trading Up 5.8%

Shares of NASDAQ:KPRX traded up $0.08 during trading on Wednesday, reaching $1.46. The company’s stock had a trading volume of 2,514 shares, compared to its average volume of 166,892. Kiora Pharmaceuticals has a 12 month low of $1.37 and a 12 month high of $2.91. The firm’s 50 day simple moving average is $2.35 and its two-hundred day simple moving average is $2.39. The stock has a market capitalization of $6.45 million, a PE ratio of -0.58 and a beta of -0.13.

Kiora Pharmaceuticals Company Profile

Kiora Pharmaceuticals, Inc. is a clinical-stage biotechnology company focused on developing therapies for diseases of the eye. The company’s research programs are aimed at addressing conditions with limited treatment options, including inherited retinal diseases and inflammatory eye disorders. Kiora’s lead program, KIO-301, is an investigational small-molecule therapy designed to function as a molecular photoswitch. The company is studying its potential to restore light perception in patients with vision loss caused by retinal degeneration, including retinitis pigmentosa.