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

KALA BIO, Inc. (NASDAQ:KALA) was the recipient of a significant drop in short interest in 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. Approximately 0.8% of the company’s stock are short sold. Based on an average trading volume of 21,400 shares, the days-to-cover ratio is currently 1.4 days.

KALA BIO Stock Performance

KALA traded down $0.14 on Monday, reaching $6.72. 2,710 shares of the stock were exchanged, compared to its average volume of 81,772. KALA BIO has a fifty-two week low of $4.21 and a fifty-two week high of $10.97. The company has a debt-to-equity ratio of 3.18, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $30.98 million, a PE ratio of -0.54 and a beta of -2.13. The company’s 50-day moving average price is $6.17 and its 200 day moving average price is $6.26.

KALA BIO (NASDAQ:KALA) last posted its quarterly earnings data 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, sell-side analysts forecast that KALA BIO will post -10.84 EPS for the current fiscal year.

Hedge Funds Weigh In On KALA BIO

A hedge fund recently bought a new stake in KALA BIO stock. SR One Capital Management LP acquired a new position in KALA BIO, Inc. (NASDAQ:KALA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 443,661 shares of the company’s stock, valued at approximately $3,146,000. KALA BIO accounts for 1.0% of SR One Capital Management LP’s portfolio, making the stock its 9th largest holding. SR One Capital Management LP owned approximately 15.76% of KALA BIO at the end of the most recent quarter. Institutional investors and hedge funds own 24.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.