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

Kazia Therapeutics Limited (NASDAQ:KZIA) was the target of a large decrease in short interest in February. As of February 15th, there was short interest totalling 90,500 shares, a decrease of 90.2% from the January 31st total of 921,900 shares. Based on an average daily volume of 1,770,000 shares, the short-interest ratio is currently 0.1 days. Approximately 3.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Maxim Group initiated 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 Stock Down 3.1 %

KZIA traded down $0.03 during trading on Thursday, reaching $0.84. The stock had a trading volume of 69,141 shares, compared to its average volume of 2,960,441. The business has a 50-day moving average of $1.62 and a 200-day moving average of $3.45. Kazia Therapeutics has a one year low of $0.78 and a one year high of $15.80.

Hedge Funds Weigh In On Kazia Therapeutics

An institutional investor recently bought a new position in Kazia Therapeutics stock. MAI Capital Management bought a new position in Kazia Therapeutics Limited (NASDAQ:KZIA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,363,894 shares of the company’s stock, valued at approximately $586,000. MAI Capital Management owned approximately 51.66% of Kazia Therapeutics at the end of the most recent reporting period. 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.