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

Zura Bio Limited (NASDAQ:ZURA - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 628,300 shares, a growth of 90.4% from the March 15th total of 330,000 shares. Based on an average daily trading volume, of 275,300 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.3% of the company's shares are sold short.

Zura Bio Trading Up 17.1 %

NASDAQ ZURA traded up $0.49 during trading on Friday, reaching $3.36. 457,171 shares of the company's stock traded hands, compared to its average volume of 268,890. The company's 50 day simple moving average is $3.28 and its two-hundred day simple moving average is $4.24. Zura Bio has a 12-month low of $2.00 and a 12-month high of $14.00.

Analyst Upgrades and Downgrades

Separately, Oppenheimer reiterated an "outperform" rating and set a $16.00 price objective (down previously from $17.00) on shares of Zura Bio in a report on Monday, April 1st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $16.40.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. purchased a new position in shares of Zura Bio in the 2nd quarter worth approximately $598,000. Northern Trust Corp purchased a new position in shares of Zura Bio in the 2nd quarter worth approximately $573,000. JPMorgan Chase & Co. purchased a new position in shares of Zura Bio in the 2nd quarter worth approximately $50,000. Geode Capital Management LLC purchased a new position in shares of Zura Bio in the 2nd quarter worth approximately $1,645,000. Finally, BlackRock Inc. purchased a new position in shares of Zura Bio in the 2nd quarter worth approximately $3,330,000. Hedge funds and other institutional investors own 61.14% of the company's stock.

Zura Bio Company Profile

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops ZB-168, an anti IL7R a inhibitor that impact on diseases driven by IL7 and TSLP biological pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.