Kazia Therapeutics (NASDAQ:KZIA) Trading 14.1% Higher – Here’s Why

Kazia Therapeutics Limited (NASDAQ:KZIA)’s stock price was up 14.1% on Friday . The company traded as high as $3.80 and last traded at $3.72. Approximately 60,837 shares changed hands during trading, a decline of 65% from the average daily volume of 174,038 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

Separately, Maxim Group started coverage on shares of Kazia Therapeutics in a report on Thursday, February 6th. They issued a “buy” rating and a $15.00 price target for the company.

Kazia Therapeutics Stock Performance

The company has a 50 day moving average price of $4.01 and a 200 day moving average price of $11.48.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Kazia Therapeutics stock. Barclays PLC acquired a new stake in Kazia Therapeutics Limited (NASDAQ:KZIA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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 quarter. 30.89% of the stock is currently owned by hedge funds and other institutional investors.

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.