KALA BIO, Inc. (NASDAQ:KALA) Sees Large Growth in Short Interest
by Teresa Graham · The Cerbat GemKALA BIO, Inc. (NASDAQ:KALA – Get Free Report) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 70,709 shares, a growth of 66.0% from the May 14th total of 42,592 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 69,148 shares, the short-interest ratio is presently 1.0 days.
Analysts Set New Price Targets
KALA has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KALA BIO in a report on Friday, March 27th. Wall Street Zen upgraded KALA BIO from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, KALA BIO currently has a consensus rating of “Hold” and a consensus price target of $1,018.75.
View Our Latest Stock Report on KALA
KALA BIO Price Performance
Shares of NASDAQ:KALA traded up $0.01 during trading on Monday, reaching $2.64. 90,229 shares of the company’s stock traded hands, compared to its average volume of 115,739. The stock has a market capitalization of $49.08 million, a P/E ratio of -0.03 and a beta of -2.40. KALA BIO has a 12 month low of $2.03 and a 12 month high of $1,030.00. The company has a 50 day moving average of $5.16 and a 200-day moving average of $18.63.
KALA BIO (NASDAQ:KALA – Get Free Report) last posted its 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.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in KALA. Woodline Partners LP bought a new stake in KALA BIO in the first quarter valued at $1,483,000. Geode Capital Management LLC increased 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 acquiring an additional 1,534 shares during the period. XTX Topco Ltd bought a new stake in KALA BIO in the 2nd quarter valued at about $62,000. Jane Street Group LLC acquired a new position in KALA BIO during the 4th quarter valued at about $80,000. Finally, Baker BROS. Advisors LP grew its position in KALA BIO by 83.1% in the 4th quarter. Baker BROS. Advisors LP now owns 1,804,055 shares of the company’s stock worth $1,003,000 after purchasing an additional 818,962 shares during the last quarter. 24.61% of the stock is currently owned by institutional investors.
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.