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

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

Kazia Therapeutics Price Performance

KZIA stock traded up $0.04 on Friday, reaching $1.00. The company had a trading volume of 52,174 shares, compared to its average volume of 853,368. Kazia Therapeutics has a 1 year low of $0.76 and a 1 year high of $15.80. The company’s fifty day moving average is $1.24 and its 200 day moving average is $3.23.

Institutional Investors Weigh In On Kazia Therapeutics

A hedge fund recently bought a new stake in Kazia Therapeutics stock. Barclays PLC bought a new stake in Kazia Therapeutics Limited (NASDAQ:KZIA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 120,000 shares of the company’s stock, valued at approximately $212,000. Barclays PLC owned approximately 2.38% of Kazia Therapeutics as of its most recent filing with the Securities and Exchange Commission. 30.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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