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

Kazia Therapeutics Limited (NASDAQ:KZIA) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 81,200 shares, a drop of 29.9% from the March 15th total of 115,900 shares. Based on an average daily trading volume, of 1,840,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Kazia Therapeutics stock. Barclays PLC purchased a new position in shares of Kazia Therapeutics Limited (NASDAQ:KZIA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 120,000 shares of the company’s stock, valued at approximately $212,000. Barclays PLC owned about 2.38% of Kazia Therapeutics at the end of the most recent reporting period. 30.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Maxim Group initiated coverage on Kazia Therapeutics in a research report on Thursday, February 6th. They set a “buy” rating and a $3.00 target price for the company.

Kazia Therapeutics Trading Down 6.8 %

KZIA traded down $0.24 during midday trading on Friday, hitting $3.30. The company had a trading volume of 195,257 shares, compared to its average volume of 172,123. Kazia Therapeutics has a twelve month low of $2.86 and a twelve month high of $79.00. The firm’s 50-day simple moving average is $0.96 and its 200-day simple moving average is $2.70.

About Kazia Therapeutics

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.