Short Interest in Zura Bio Limited (NASDAQ:ZURA) Drops By 31.8%

Zura Bio Limited (NASDAQ:ZURA) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 428,400 shares, a decline of 31.8% from the March 31st total of 628,300 shares. Based on an average daily volume of 295,200 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.3% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Oppenheimer restated an “outperform” rating and set a $16.00 price objective (down from $17.00) on shares of Zura Bio in a research note on Monday, April 1st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.40.

Insider Activity

In other Zura Bio news, Director Amit Munshi purchased 159,744 shares of Zura Bio stock in a transaction dated Monday, April 22nd. The stock was acquired at an average price of $3.13 per share, for a total transaction of $499,998.72. Following the acquisition, the director now owns 777,384 shares in the company, valued at approximately $2,433,211.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders acquired 170,926 shares of company stock worth $534,998. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zura Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC lifted its stake in shares of Zura Bio by 66.3% in the third quarter. Armistice Capital LLC now owns 1,580,000 shares of the company’s stock worth $10,428,000 after buying an additional 630,000 shares in the last quarter. Silverarc Capital Management LLC increased its position in Zura Bio by 152.5% during the third quarter. Silverarc Capital Management LLC now owns 404,040 shares of the company’s stock worth $2,667,000 after purchasing an additional 244,040 shares during the last quarter. Lynx1 Capital Management LP acquired a new stake in Zura Bio during the third quarter worth about $65,000. Raymond James & Associates increased its position in Zura Bio by 14.0% during the third quarter. Raymond James & Associates now owns 77,356 shares of the company’s stock worth $511,000 after purchasing an additional 9,481 shares during the last quarter. Finally, Eisler Capital US LLC acquired a new stake in Zura Bio during the third quarter worth about $660,000. 61.14% of the stock is owned by hedge funds and other institutional investors.

Zura Bio Trading Up 21.8 %

ZURA opened at $4.41 on Friday. The firm has a fifty day moving average price of $3.19 and a 200 day moving average price of $3.99. Zura Bio has a 1 year low of $2.00 and a 1 year high of $14.00.

About Zura Bio

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops Tibulizumab, an IgG-scFv bispecific dual-antagonist antibody engineered by the fusion of ixekizumab and tabalumab that neutralizes IL-17A and BAFF, which is in Phase 2 clinical trial development; ZB-168, a monoclonal antibody that binds and neutralizes the IL-7 receptor chain that impact on diseases driven by IL7 and thymic stromal lymphopoietin immune pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.