Kazia Therapeutics (NASDAQ:KZIA) Shares Down 5.2%

Kazia Therapeutics Limited (NASDAQ:KZIA)’s stock price was down 5.2% during trading on Monday . The stock traded as low as $0.22 and last traded at $0.22. Approximately 144,239 shares traded hands during trading, a decline of 73% from the average daily volume of 535,430 shares. The stock had previously closed at $0.23.

Kazia Therapeutics Trading Down 5.2 %

The firm’s 50-day moving average price is $0.27 and its 200 day moving average price is $0.31.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Kazia Therapeutics stock. Platinum Investment Management Ltd. purchased a new position in shares of Kazia Therapeutics Limited (NASDAQ:KZIA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,821,887 shares of the company’s stock, valued at approximately $801,000. Platinum Investment Management Ltd. owned about 11.15% of Kazia Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 30.89% of the company’s stock.

About Kazia Therapeutics

Kazia Therapeutics Limited operates as a 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, diffuse intrinsic pontine glioma/advanced solid tumors, atypical teratoid rhabdoid tumor, brain metastases, triple negative breast cancer, and primary central nervous system lymphoma.