Zura Bio Limited (NASDAQ:ZURA) Short Interest Down 83.5% in August

Zura Bio Limited (NASDAQ:ZURA) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 663,300 shares, a decrease of 83.5% from the August 15th total of 4,020,000 shares. Based on an average daily trading volume, of 318,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.0% of the company’s stock are short sold.

Analysts Set New Price Targets

ZURA has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Zura Bio in a report on Thursday, August 15th. HC Wainwright initiated coverage on shares of Zura Bio in a research report on Thursday, September 5th. They issued a “neutral” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Zura Bio currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Zura Bio Stock Performance

Shares of ZURA stock opened at $3.70 on Friday. Zura Bio has a one year low of $2.00 and a one year high of $7.22. The company’s fifty day moving average price is $3.69 and its 200-day moving average price is $3.76.

Zura Bio (NASDAQ:ZURA) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Equities research analysts predict that Zura Bio will post -0.47 EPS for the current fiscal year.

Insider Activity

In other news, Director Someit Sidhu sold 51,728 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $3.87, for a total transaction of $200,187.36. Following the sale, the director now owns 2,085,418 shares in the company, valued at $8,070,567.66. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Zura Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of Zura Bio in the 2nd quarter worth $43,000. Renaissance Technologies LLC boosted its stake in shares of Zura Bio by 51.3% during the 2nd quarter. Renaissance Technologies LLC now owns 17,400 shares of the company’s stock worth $61,000 after purchasing an additional 5,900 shares during the period. Forefront Analytics LLC boosted its stake in shares of Zura Bio by 46.8% during the 4th quarter. Forefront Analytics LLC now owns 21,229 shares of the company’s stock worth $99,000 after purchasing an additional 6,765 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Zura Bio by 15.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 47,109 shares of the company’s stock worth $165,000 after purchasing an additional 6,412 shares during the period. Finally, Affinity Asset Advisors LLC purchased a new position in shares of Zura Bio during the 1st quarter worth about $1,157,000. 61.14% of the stock is owned by hedge funds and other institutional investors.

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.