Short Interest in Zura Bio Limited (NASDAQ:ZURA) Drops By 21.0%

Zura Bio Limited (NASDAQ:ZURA) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 569,700 shares, a decrease of 21.0% from the May 15th total of 721,400 shares. Based on an average daily volume of 323,500 shares, the short-interest ratio is presently 1.8 days. Approximately 3.0% of the company’s stock are short sold.

Zura Bio Price Performance

Shares of Zura Bio stock opened at $3.77 on Friday. The business has a 50-day moving average price of $4.34 and a 200 day moving average price of $3.98. Zura Bio has a fifty-two week low of $2.00 and a fifty-two week high of $13.00.

Zura Bio (NASDAQ:ZURA) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.21. On average, equities analysts forecast that Zura Bio will post -0.53 EPS for the current fiscal year.

Insider Activity at Zura Bio

In related news, Director Amit Munshi bought 159,744 shares of the stock in a transaction dated Monday, April 22nd. The stock was acquired at an average price of $3.13 per share, for a total transaction of $499,998.72. Following the completion of the purchase, the director now owns 777,384 shares in the company, valued at $2,433,211.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Amit Munshi bought 159,744 shares of Zura Bio stock in a transaction dated Monday, April 22nd. The shares were acquired at an average cost of $3.13 per share, with a total value of $499,998.72. Following the completion of the transaction, the director now owns 777,384 shares in the company, valued at approximately $2,433,211.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Van Amstel Arnout Ploos purchased 80,000 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $6.20 per share, with a total value of $496,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at approximately $620,000. The disclosure for this purchase can be found here. In the last three months, insiders purchased 250,926 shares of company stock worth $1,030,998. Corporate insiders own 15.80% of the company’s stock.

Institutional Trading of Zura Bio

A number of institutional investors and hedge funds have recently modified their holdings of ZURA. Affinity Asset Advisors LLC bought a new position in shares of Zura Bio during the first quarter valued at approximately $1,157,000. Forefront Analytics LLC boosted its position in Zura Bio by 46.8% during the 4th quarter. Forefront Analytics LLC now owns 21,229 shares of the company’s stock valued at $99,000 after purchasing an additional 6,765 shares during the period. Armistice Capital LLC grew its stake in Zura Bio by 15.4% during the 4th quarter. Armistice Capital LLC now owns 1,824,000 shares of the company’s stock worth $8,518,000 after buying an additional 244,000 shares during the last quarter. Lynx1 Capital Management LP acquired a new stake in Zura Bio in the third quarter worth $65,000. Finally, Eisler Capital US LLC acquired a new stake in Zura Bio in the third quarter worth $660,000. 61.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Cantor Fitzgerald began coverage on Zura Bio in a research note on Wednesday. They issued an “overweight” rating on the stock. Oppenheimer upped their target price on Zura Bio from $16.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Piper Sandler started coverage on Zura Bio in a research note on Friday, May 3rd. They set an “overweight” rating and a $26.00 target price for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $19.80.

Zura Bio Company Profile

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops Tibulizumab, an IgG-scFv bispecific dual-antagonist antibody engineered by the fusion of ixekizumab and tabalumab that neutralizes IL-17A and BAFF, which is in Phase 2 clinical trial development; ZB-168, a monoclonal antibody that binds and neutralizes the IL-7 receptor chain that impact on diseases driven by IL7 and thymic stromal lymphopoietin immune pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.