Kazia Therapeutics Limited (NASDAQ:KZIA) Sees Significant Decrease in Short Interest

Kazia Therapeutics Limited (NASDAQ:KZIA) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 18,800 shares, a drop of 88.5% from the October 15th total of 164,000 shares. Based on an average daily volume of 143,500 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Kazia Therapeutics

An institutional investor recently bought a new position in Kazia Therapeutics stock. MAI Capital Management purchased a new stake in shares of Kazia Therapeutics Limited (NASDAQ:KZIA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,363,894 shares of the company’s stock, valued at approximately $586,000. MAI Capital Management owned approximately 51.66% of Kazia Therapeutics as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 30.89% of the company’s stock.

Kazia Therapeutics Stock Performance

Shares of Kazia Therapeutics stock traded down $0.39 during trading hours on Tuesday, reaching $6.39. The company’s stock had a trading volume of 81,242 shares, compared to its average volume of 438,382. The firm has a 50 day moving average price of $4.44 and a 200-day moving average price of $3.77. Kazia Therapeutics has a one year low of $1.87 and a one year high of $15.80.

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.