Kazia Therapeutics (NASDAQ:KZIA) Shares Down 5.2%

Kazia Therapeutics Limited (NASDAQ:KZIA) shares traded down 5.2% during mid-day trading on Monday . The stock traded as low as $0.22 and last traded at $0.22. 144,239 shares traded hands during trading, a decline of 73% from the average session volume of 535,430 shares. The stock had previously closed at $0.23.

Kazia Therapeutics Stock Performance

The firm has a 50 day moving average price of $0.27 and a 200-day moving average price of $0.31.

Hedge Funds Weigh In On Kazia Therapeutics

A hedge fund recently bought a new stake in Kazia Therapeutics stock. Armistice Capital LLC purchased a new stake in Kazia Therapeutics Limited (NASDAQ:KZIA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,475,555 shares of the company’s stock, valued at approximately $1,088,000. Armistice Capital LLC owned approximately 15.15% of Kazia Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 30.89% of the company’s stock.

About Kazia Therapeutics

Kazia Therapeutics Limited operates as a 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, diffuse intrinsic pontine glioma/advanced solid tumors, atypical teratoid rhabdoid tumor, brain metastases, triple negative breast cancer, and primary central nervous system lymphoma.