Zura Bio Limited (NASDAQ:ZURA) Short Interest Down 31.8% in April

Zura Bio Limited (NASDAQ:ZURA - Get Free Report) was the target of a significant 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. Based on an average daily trading volume, of 295,200 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.3% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, Director Amit Munshi purchased 159,744 shares of Zura Bio stock in a transaction that occurred on Monday, April 22nd. The shares were 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 directly owns 777,384 shares of the company's stock, valued at approximately $2,433,211.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 170,926 shares of company stock valued at $534,998 over the last 90 days. 15.80% of the stock is owned by corporate insiders.

Institutional Trading of Zura Bio

Large investors have recently made changes to their positions in the company. Forefront Analytics LLC boosted its stake in Zura Bio by 46.8% during the 4th quarter. Forefront Analytics LLC now owns 21,229 shares of the company's stock valued at $99,000 after purchasing an additional 6,765 shares during the last quarter. Raymond James & Associates boosted its stake in Zura Bio by 14.0% during the 3rd quarter. Raymond James & Associates now owns 77,356 shares of the company's stock valued at $511,000 after purchasing an additional 9,481 shares during the last quarter. Lynx1 Capital Management LP acquired a new position in Zura Bio during the 3rd quarter valued at about $65,000. Bank of New York Mellon Corp acquired a new position in Zura Bio during the 3rd quarter valued at about $224,000. Finally, Eisler Capital US LLC acquired a new position in Zura Bio during the 3rd quarter valued at about $660,000. 61.14% of the stock is currently owned by institutional investors and hedge funds.

Zura Bio Stock Performance

Shares of ZURA traded up $0.79 during trading hours on Friday, hitting $4.41. The stock had a trading volume of 897,979 shares, compared to its average volume of 257,676. The firm has a 50 day simple moving average of $3.19 and a 200-day simple moving average of $3.99. Zura Bio has a 1-year low of $2.00 and a 1-year high of $14.00.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer reaffirmed an "outperform" rating and issued a $16.00 target price (down previously 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $16.40.

Zura Bio Company Profile

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.