Kazia Therapeutics (NASDAQ:KZIA) Lifted to “Hold” at Zacks Investment Research

Kazia Therapeutics (NASDAQ:KZIAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Kazia Therapeutics Limited is an oncology-focused biotechnology company. It develops anti-cancer drugs as well as provides pharmaceutical research and development technology solutions. The company’s lead program is GDC-0084, a small molecule inhibitor of the PI3K / AKT / mTOR pathway, which is being developed to treat glioblastoma multiforme, the primary and most aggressive form of brain cancer. Kazia Therapeutics Limited, formerly known as Novogen Limited, is based in Sydney, Australia. “

KZIA traded up $0.24 during trading on Friday, reaching $6.08. The company had a trading volume of 25,766 shares, compared to its average volume of 17,937. The business’s fifty day moving average price is $6.82 and its 200 day moving average price is $7.57. Kazia Therapeutics has a 12 month low of $5.01 and a 12 month high of $12.28.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new position in Kazia Therapeutics during the 2nd quarter valued at $126,000. Envestnet Asset Management Inc. bought a new stake in shares of Kazia Therapeutics during the 4th quarter worth $223,000. Susquehanna International Group LLP raised its stake in shares of Kazia Therapeutics by 107.2% during the 4th quarter. Susquehanna International Group LLP now owns 50,762 shares of the company’s stock worth $429,000 after purchasing an additional 26,267 shares during the period. Finally, Morgan Stanley raised its stake in shares of Kazia Therapeutics by 1.4% during the 2nd quarter. Morgan Stanley now owns 233,953 shares of the company’s stock worth $2,307,000 after purchasing an additional 3,152 shares during the period. 3.60% of the stock is owned by institutional investors and hedge funds.

About Kazia Therapeutics (Get Rating)

Kazia Therapeutics Limited, an oncology-focused 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. It is also developing EVT801, an investigational new drug for various forms of cancer.

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