Short Interest in KALA BIO, Inc. (NASDAQ:KALA) Expands By 88.8%

KALA BIO, Inc. (NASDAQ:KALA) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 300,700 shares, an increase of 88.8% from the January 31st total of 159,300 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average trading volume of 61,700 shares, the days-to-cover ratio is currently 4.9 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of KALA BIO in a report on Thursday, February 13th.

Insider Activity at KALA BIO

In other news, major shareholder Bros. Advisors Lp Baker bought 310,559 shares of the stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $6.44 per share, with a total value of $1,999,999.96. Following the purchase, the insider now directly owns 1,083,398 shares in the company, valued at $6,977,083.12. The trade was a 40.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark T. Iwicki sold 5,779 shares of KALA BIO stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $7.63, for a total value of $44,093.77. Following the completion of the transaction, the chief executive officer now owns 280,076 shares of the company’s stock, valued at approximately $2,136,979.88. This represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,506 shares of company stock worth $72,531. 8.32% of the stock is owned by corporate insiders.

Institutional Trading of KALA BIO

Institutional investors have recently made changes to their positions in the company. AIGH Capital Management LLC purchased a new position in KALA BIO in the 4th quarter valued at $842,000. Geode Capital Management LLC raised its position in shares of KALA BIO by 28.4% in the fourth quarter. Geode Capital Management LLC now owns 47,642 shares of the company’s stock valued at $331,000 after buying an additional 10,526 shares during the last quarter. SR One Capital Management LP lifted its stake in shares of KALA BIO by 35.0% in the fourth quarter. SR One Capital Management LP now owns 598,940 shares of the company’s stock worth $4,157,000 after buying an additional 155,279 shares in the last quarter. Silverarc Capital Management LLC acquired a new position in KALA BIO during the fourth quarter worth about $1,604,000. Finally, Baker BROS. Advisors LP boosted its position in KALA BIO by 34.8% during the fourth quarter. Baker BROS. Advisors LP now owns 1,201,894 shares of the company’s stock worth $8,341,000 after acquiring an additional 310,559 shares during the last quarter. 24.61% of the stock is owned by institutional investors and hedge funds.

KALA BIO Price Performance

KALA BIO stock traded down $0.04 during midday trading on Friday, reaching $6.93. The company had a trading volume of 10,771 shares, compared to its average volume of 80,976. KALA BIO has a 12-month low of $4.21 and a 12-month high of $11.20. The firm’s fifty day simple moving average is $7.74 and its 200-day simple moving average is $6.69. 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 company has a market capitalization of $42.21 million, a P/E ratio of -0.56 and a beta of -2.03.

KALA BIO Company Profile

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.