KALA BIO, Inc. (NASDAQ:KALA) Short Interest Down 77.7% in July

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

KALA BIO Stock Down 4.6 %

NASDAQ KALA traded down $0.34 during trading hours on Friday, hitting $6.91. 32,804 shares of the company were exchanged, compared to its average volume of 119,553. 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 firm has a market cap of $19.47 million, a price-to-earnings ratio of -0.46 and a beta of -2.04. The company has a 50 day moving average of $6.53 and a two-hundred day moving average of $7.02. KALA BIO has a 52-week low of $4.21 and a 52-week high of $15.94.

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

Insiders Place Their Bets

In related news, CEO Mark T. Iwicki sold 15,168 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was 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 directly owns 263,755 shares in the company, valued at $1,252,836.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Mark T. Iwicki sold 7,392 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 278,923 shares in the company, valued at approximately $1,698,641.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark T. Iwicki sold 15,168 shares of KALA BIO stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $4.75, for a total transaction of $72,048.00. Following the completion of the sale, the chief executive officer now owns 263,755 shares of the company’s stock, valued at approximately $1,252,836.25. The disclosure for this sale can be found here. Insiders have sold 35,255 shares of company stock valued at $182,564 over the last ninety days. Company insiders own 13.40% of the company’s stock.

Institutional Investors Weigh In On KALA BIO

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on KALA shares. HC Wainwright reduced their price target on shares of KALA BIO from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Oppenheimer reiterated an “outperform” rating and set a $15.00 target price on shares of KALA BIO in a report on Monday, April 1st.

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.