KALA BIO, Inc. (NASDAQ:KALA) Short Interest Down 18.7% in November

KALA BIO, Inc. (NASDAQ:KALA) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 30,500 shares, a drop of 18.7% from the October 31st total of 37,500 shares. Based on an average daily trading volume, of 21,400 shares, the short-interest ratio is currently 1.4 days. Currently, 0.8% of the shares of the company are sold short.

Hedge Funds Weigh In On KALA BIO

A hedge fund recently bought a new stake in KALA BIO stock. SR One Capital Management LP bought a new stake in KALA BIO, Inc. (NASDAQ:KALA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 443,661 shares of the company’s stock, valued at approximately $3,146,000. KALA BIO comprises approximately 1.0% of SR One Capital Management LP’s holdings, making the stock its 9th largest holding. SR One Capital Management LP owned 15.76% of KALA BIO at the end of the most recent reporting period. Institutional investors own 24.61% of the company’s stock.

Wall Street Analyst Weigh In

KALA has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of KALA BIO in a research report on Friday, November 15th. Oppenheimer restated an “outperform” rating and set a $15.00 target price on shares of KALA BIO in a research report on Monday, August 19th.

KALA BIO Price Performance

KALA traded down $0.12 during trading on Monday, reaching $6.74. The company’s stock had a trading volume of 937 shares, compared to its average volume of 81,764. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 3.18. The firm has a fifty day simple moving average of $6.17 and a two-hundred day simple moving average of $6.26. KALA BIO has a 1 year low of $4.21 and a 1 year high of $10.97. The company has a market cap of $31.07 million, a price-to-earnings ratio of -0.55 and a beta of -2.13.

KALA BIO (NASDAQ:KALA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.93) EPS for the quarter, beating the consensus estimate of ($2.43) by $0.50. As a group, analysts anticipate that KALA BIO will post -10.84 EPS for the current year.

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.