Zura Bio Limited (NASDAQ:ZURA) Sees Significant Decrease in Short Interest

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

Analysts Set New Price Targets

Separately, Oppenheimer reissued an “outperform” rating and issued a $16.00 price target (down from $17.00) on shares of Zura Bio in a report on Monday, April 1st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Zura Bio currently has an average rating of “Buy” and a consensus price target of $16.40.

Zura Bio Stock Performance

Shares of NASDAQ:ZURA opened at $4.41 on Monday. Zura Bio has a 12-month low of $2.00 and a 12-month high of $14.00. The company’s 50 day moving average price is $3.19 and its two-hundred day moving average price is $3.97.

Insider Activity at Zura Bio

In other Zura Bio news, Director Amit Munshi bought 159,744 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average price of $3.13 per share, with a total value of $499,998.72. Following the completion of the transaction, the director now owns 777,384 shares in the company, valued at $2,433,211.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 170,926 shares of company stock worth $534,998 in the last quarter. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Zura Bio

Large investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC boosted its holdings in shares of Zura Bio by 66.3% during the 3rd quarter. Armistice Capital LLC now owns 1,580,000 shares of the company’s stock valued at $10,428,000 after acquiring an additional 630,000 shares in the last quarter. Silverarc Capital Management LLC boosted its stake in shares of Zura Bio by 152.5% during the third quarter. Silverarc Capital Management LLC now owns 404,040 shares of the company’s stock valued at $2,667,000 after purchasing an additional 244,040 shares in the last quarter. Eisler Capital US LLC bought a new stake in shares of Zura Bio during the third quarter worth about $660,000. Bank of New York Mellon Corp acquired a new position in Zura Bio during the 3rd quarter worth about $224,000. Finally, Forefront Analytics LLC acquired a new stake in shares of Zura Bio during the third quarter worth $95,000. Institutional investors and hedge funds own 61.14% of the company’s stock.

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.