KALA BIO, Inc. (NASDAQ:KALA) Sees Large Drop in Short Interest

KALA BIO, Inc. (NASDAQ:KALA) saw a significant decrease in short interest in July. As of July 15th, there was short interest totalling 65,800 shares, a decrease of 77.7% from the June 30th total of 295,200 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average trading volume of 231,600 shares, the short-interest ratio is presently 0.3 days.

KALA BIO Stock Performance

Shares of NASDAQ KALA traded down $0.13 during mid-day trading on Thursday, reaching $7.24. 12,705 shares of the company were exchanged, compared to its average volume of 120,234. The company’s 50-day simple moving average is $6.52 and its 200-day simple moving average is $7.03. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 4.92. The stock has a market capitalization of $20.42 million, a P/E ratio of -0.48 and a beta of -2.04. KALA BIO has a twelve month low of $4.21 and a twelve month high of $15.94.

KALA BIO (NASDAQ:KALA) last posted its earnings results on Tuesday, May 14th. The company reported ($4.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.89) by ($1.31). As a group, research analysts predict that KALA BIO will post -14.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright cut their price target on shares of KALA BIO from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Oppenheimer restated an “outperform” rating and set a $15.00 target price on shares of KALA BIO in a research note on Monday, April 1st.

Insider Transactions at KALA BIO

In related news, CEO Mark T. Iwicki sold 7,392 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $6.09, for a total value of $45,017.28. Following the completion of the transaction, the chief executive officer now owns 278,923 shares of the company’s stock, valued at $1,698,641.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Mark T. Iwicki sold 15,168 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $4.75, for a total value of $72,048.00. Following the completion of the transaction, the chief executive officer now owns 263,755 shares of the company’s stock, valued at $1,252,836.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark T. Iwicki sold 7,392 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $6.09, for a total transaction of $45,017.28. Following the completion of the transaction, the chief executive officer now directly owns 278,923 shares of the company’s stock, valued at approximately $1,698,641.07. The disclosure for this sale can be found here. Insiders sold 35,255 shares of company stock valued at $182,564 over the last quarter. Corporate insiders own 13.40% of the company’s stock.

Institutional Trading of KALA BIO

A hedge fund recently raised its stake in KALA BIO stock. Knights of Columbus Asset Advisors LLC raised its position in KALA BIO, Inc. (NASDAQ:KALA) by 100.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,834 shares of the company’s stock after buying an additional 2,417 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.18% of KALA BIO worth $34,000 at the end of the most recent quarter. Institutional investors own 24.61% of the company’s stock.

About KALA BIO

KALA BIO, Inc, a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of innovative therapies for rare and severe eye diseases in the United States. The company's product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects.