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

Kazia Therapeutics Limited (NASDAQ:KZIA) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 59,600 shares, a decline of 34.1% from the February 13th total of 90,500 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average trading volume of 1,860,000 shares, the short-interest ratio is currently 0.0 days.

Kazia Therapeutics Stock Performance

NASDAQ KZIA traded up $0.04 on Friday, hitting $1.00. 52,174 shares of the company’s stock were exchanged, compared to its average volume of 853,368. The firm’s 50-day moving average price is $1.24 and its two-hundred day moving average price is $3.23. Kazia Therapeutics has a fifty-two week low of $0.76 and a fifty-two week high of $15.80.

Analyst Upgrades and Downgrades

Separately, Maxim Group initiated coverage on Kazia Therapeutics in a research report on Thursday, February 6th. They issued a “buy” rating and a $3.00 price target on the stock.

Hedge Funds Weigh In On Kazia Therapeutics

An institutional investor recently bought a new position in Kazia Therapeutics stock. Barclays PLC bought a new position in shares of Kazia Therapeutics Limited (NASDAQ:KZIA) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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. Hedge funds and other institutional investors own 30.89% of the company’s stock.

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.