Zura Bio Limited (NASDAQ:ZURA) Short Interest Down 21.9% in August

Key Points

• Zura Bio Limited experienced a significant decrease in short interest, dropping by 21.9% from 544,600 shares to 425,300 shares in August.
• Shares of Zura Bio are currently priced at $1.90, with a market capitalization of $123.54 million and a 52-week range between $0.97 and $5.07.
• Several institutional investors increased their stakes in Zura Bio, with 61.14% of the stock now owned by these investors, including a notable 78.7% increase from JPMorgan Chase & Co.

Zura Bio Limited (NASDAQ:ZURA - Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 425,300 shares, a decrease of 21.9% from the August 15th total of 544,600 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 639,400 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily trading volume, of 639,400 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.0% of the shares of the company are short sold.

Zura Bio Price Performance

Shares of ZURA traded down $0.06 during mid-day trading on Friday, reaching $1.99. The company's stock had a trading volume of 787,641 shares, compared to its average volume of 264,693. Zura Bio has a 12-month low of $0.97 and a 12-month high of $5.07. The stock has a market cap of $129.39 million, a PE ratio of -2.84 and a beta of -0.02. The company's 50 day moving average is $1.78 and its 200 day moving average is $1.41.

Zura Bio (NASDAQ:ZURA - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.02. As a group, sell-side analysts anticipate that Zura Bio will post -0.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Chardan Capital reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Zura Bio in a research note on Friday, August 15th. HC Wainwright dropped their target price on Zura Bio from $3.00 to $2.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 19th. Finally, Oppenheimer cut their price target on shares of Zura Bio from $17.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $11.60.

Institutional Trading of Zura Bio

Institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp boosted its stake in shares of Zura Bio by 16.7% during the fourth quarter. Northern Trust Corp now owns 401,994 shares of the company's stock valued at $1,005,000 after acquiring an additional 57,583 shares during the last quarter. Bank of America Corp DE grew its stake in Zura Bio by 31.9% during the 4th quarter. Bank of America Corp DE now owns 41,222 shares of the company's stock valued at $103,000 after purchasing an additional 9,966 shares in the last quarter. Millennium Management LLC increased its holdings in Zura Bio by 1,499.0% in the fourth quarter. Millennium Management LLC now owns 701,278 shares of the company's stock valued at $1,753,000 after buying an additional 657,420 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Zura Bio in the 4th quarter valued at about $35,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Zura Bio during the fourth quarter valued at $32,000. Hedge funds and other institutional investors 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.