Wed Sep 25 04:36:54 UTC 2024: ## Kazia Therapeutics Shares Dip Despite Positive Analyst Rating and Institutional Investment

**New York, NY** – Shares of Kazia Therapeutics Limited (NASDAQ:KZIA) closed down 3.6% on Tuesday, trading at $0.32 after hitting a low of $0.32. The trading volume for the day was significantly lower than the average, with only 238,340 shares changing hands. This represents a 95% decrease from the average daily volume.

Despite the dip, Kazia Therapeutics has received positive signals from both analysts and institutional investors. HC Wainwright reaffirmed a “buy” rating and set a $2.00 price target on Kazia Therapeutics shares in a report on July 12th.

Furthermore, Platinum Investment Management Ltd. purchased a new position in Kazia Therapeutics during the fourth quarter, acquiring 1,821,887 shares valued at approximately $801,000. This investment now gives Platinum Investment Management Ltd. ownership of 11.15% of Kazia Therapeutics. Overall, institutional investors currently own 30.89% of the company’s stock.

Kazia Therapeutics is a biotechnology company focused on developing anti-cancer drugs. Their lead candidate, Paxalisib, is a brain-penetrant inhibitor of the PI3K/AKT/mTOR pathway. Paxalisib is currently being developed as a potential treatment for a range of cancers, including glioblastoma, diffuse intrinsic pontine glioma/advanced solid tumors, atypical teratoid rhabdoid tumor, brain metastases, triple negative breast cancer, and primary central nervous system lymphoma.

Read More