Short Interest in Kintara Therapeutics, Inc. (NASDAQ:KTRA) Grows By 506.0%

Kintara Therapeutics, Inc. (NASDAQ:KTRA) was the target of a large growth in short interest during the month of May. As of May 28th, there was short interest totalling 1,790,000 shares, a growth of 506.0% from the May 13th total of 295,400 shares. Approximately 6.6% of the company’s stock are sold short. Based on an average daily trading volume, of 803,800 shares, the days-to-cover ratio is presently 2.2 days.

Shares of NASDAQ:KTRA traded up $0.04 during trading on Friday, hitting $1.79. 28 shares of the company were exchanged, compared to its average volume of 1,064,248. The stock has a market capitalization of $58.39 million, a PE ratio of -0.84 and a beta of 1.45. Kintara Therapeutics has a 12-month low of $0.61 and a 12-month high of $3.35. The company has a 50 day moving average of $1.47.

Kintara Therapeutics (NASDAQ:KTRA) last issued its quarterly earnings data on Friday, May 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.05). On average, analysts predict that Kintara Therapeutics will post -0.68 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Nantahala Capital Management LLC increased its holdings in shares of Kintara Therapeutics by 230.7% in the 1st quarter. Nantahala Capital Management LLC now owns 902,677 shares of the company’s stock valued at $1,571,000 after acquiring an additional 629,708 shares during the period. swisspartners Ltd. acquired a new position in shares of Kintara Therapeutics in the 1st quarter valued at $479,000. Geode Capital Management LLC acquired a new position in shares of Kintara Therapeutics in the 1st quarter valued at $264,000. Citadel Advisors LLC acquired a new position in shares of Kintara Therapeutics in the 1st quarter valued at $134,000. Finally, Northern Trust Corp increased its holdings in shares of Kintara Therapeutics by 99.8% in the 1st quarter. Northern Trust Corp now owns 44,142 shares of the company’s stock valued at $77,000 after acquiring an additional 22,050 shares during the period. 6.75% of the stock is currently owned by institutional investors and hedge funds.

About Kintara Therapeutics

Kintara Therapeutics, Inc, a clinical stage drug development company, focuses on developing and commercializing anti-cancer therapies to treat cancer patients. It is developing two late-stage, Phase III-ready therapeutics, including VAL-083, a DNA-targeting agent for the treatment of drug-resistant solid tumors, such as glioblastoma multiforme, as well as other solid tumors, including ovarian cancer, non-small cell lung cancer, and diffuse intrinsic pontine glioma; and REM-001, a photodynamic therapy for the treatment of cutaneous metastatic breast cancer.

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