Short Interest in Kala Pharmaceuticals Inc (KALA) Grows By 40.4%

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Kala Pharmaceuticals Inc (NASDAQ:KALA) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,400,258 shares, an increase of 40.4% from the February 15th total of 997,467 shares. Based on an average trading volume of 361,919 shares, the days-to-cover ratio is presently 3.9 days. Approximately 5.6% of the company’s shares are sold short.

Several hedge funds have recently modified their holdings of the business. RA Capital Management LLC lifted its holdings in shares of Kala Pharmaceuticals by 114.7% in the 4th quarter. RA Capital Management LLC now owns 4,537,478 shares of the company’s stock worth $22,188,000 after buying an additional 2,424,242 shares during the period. BlackRock Inc. lifted its holdings in shares of Kala Pharmaceuticals by 29.2% in the 4th quarter. BlackRock Inc. now owns 1,427,672 shares of the company’s stock worth $6,980,000 after buying an additional 322,311 shares during the period. Athyrium Capital Management LP purchased a new stake in shares of Kala Pharmaceuticals in the 4th quarter worth $6,520,000. Vanguard Group Inc lifted its holdings in shares of Kala Pharmaceuticals by 8.0% in the 3rd quarter. Vanguard Group Inc now owns 510,295 shares of the company’s stock worth $5,036,000 after buying an additional 37,738 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Kala Pharmaceuticals by 8.0% in the 3rd quarter. Vanguard Group Inc. now owns 510,295 shares of the company’s stock worth $5,036,000 after buying an additional 37,738 shares during the period. Institutional investors and hedge funds own 67.96% of the company’s stock.

Shares of KALA stock opened at $8.41 on Friday. Kala Pharmaceuticals has a twelve month low of $4.03 and a twelve month high of $18.30. The firm has a market capitalization of $276.48 million, a price-to-earnings ratio of -3.39 and a beta of 1.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 6.34 and a quick ratio of 6.27.

KALA has been the subject of several research reports. Zacks Investment Research cut Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. ValuEngine cut Kala Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, December 21st. BidaskClub upgraded Kala Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Jefferies Financial Group initiated coverage on Kala Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $15.00 target price for the company. Finally, Wedbush set a $51.00 target price on Kala Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Kala Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $20.58.

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Kala Pharmaceuticals Company Profile

Kala Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies using its proprietary nanoparticle-based Mucus Penetrating Particles (MPP) technology for the treatment of eye diseases. Its product candidates include KPI-121 1.0%, which has completed Phase III clinical trials for the treatment of inflammation and pain following ocular surgery; INVELTYS that has completed Phase III clinical trials for the temporary relief of the signs and symptoms of dry eye disease; and KPI-285, a MPP receptor tyrosine kinase inhibitor program, which is in preclinical studies for the treatment of retinal diseases.

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