Kazia Therapeutics Limited (NASDAQ:KZIA) Sees Large Decline in Short Interest

Kazia Therapeutics Limited (NASDAQ:KZIA) was the recipient of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 90,500 shares, a decline of 90.2% from the January 31st total of 921,900 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average trading volume of 1,770,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Kazia Therapeutics

A hedge fund recently bought a new stake in Kazia Therapeutics stock. Barclays PLC bought a new position in Kazia Therapeutics Limited (NASDAQ:KZIA) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 120,000 shares of the company’s stock, valued at approximately $212,000. Barclays PLC owned 2.38% of Kazia Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 30.89% of the company’s stock.

Kazia Therapeutics Price Performance

Shares of KZIA traded down $0.03 during mid-day trading on Thursday, hitting $0.84. 69,141 shares of the company’s stock traded hands, compared to its average volume of 2,960,441. The business’s 50-day moving average price is $1.62 and its 200-day moving average price is $3.45. Kazia Therapeutics has a 1 year low of $0.78 and a 1 year high of $15.80.

Wall Street Analyst Weigh In

Separately, Maxim Group assumed coverage on shares of Kazia Therapeutics in a report on Thursday, February 6th. They set a “buy” rating and a $3.00 target price for the company.

Kazia Therapeutics Company Profile

Kazia Therapeutics Limited operates as an oncology-focused biotechnology company. The company’s lead development candidate is Paxalisib, a small molecule, brain-penetrant inhibitor of the PI3K/AKT/mTOR pathway, which is developed as a potential therapy for glioblastoma. It also develops EVT801, a small-molecule selective inhibitor of vascular endothelial growth factor receptor 3.