Short Interest in Kazia Therapeutics Limited (NASDAQ:KZIA) Expands By 225.7%

Kazia Therapeutics Limited (NASDAQ:KZIAGet Rating) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 24,100 shares, an increase of 225.7% from the April 30th total of 7,400 shares. Based on an average daily volume of 20,000 shares, the days-to-cover ratio is presently 1.2 days.

A number of institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. bought a new stake in shares of Kazia Therapeutics during the fourth quarter worth about $223,000. Morgan Stanley grew its holdings in shares of Kazia Therapeutics by 22.8% during the third quarter. Morgan Stanley now owns 287,346 shares of the company’s stock worth $3,253,000 after purchasing an additional 53,393 shares during the last quarter. Susquehanna International Group LLP grew its holdings in shares of Kazia Therapeutics by 107.2% during the fourth quarter. Susquehanna International Group LLP now owns 50,762 shares of the company’s stock worth $429,000 after purchasing an additional 26,267 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Kazia Therapeutics during the second quarter worth about $126,000. Hedge funds and other institutional investors own 3.60% of the company’s stock.

Kazia Therapeutics stock opened at $6.08 on Friday. Kazia Therapeutics has a 12-month low of $5.01 and a 12-month high of $12.28. The business’s 50-day moving average price is $6.82 and its two-hundred day moving average price is $7.57.

Separately, Zacks Investment Research upgraded Kazia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday.

About Kazia Therapeutics (Get Rating)

Kazia Therapeutics Limited, an oncology-focused biotechnology company, develops anti-cancer drugs. Its 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 is also developing EVT801, an investigational new drug for various forms of cancer.

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