Kazia Therapeutics (NASDAQ: KZIA) Stock Hits Multi-Month High After Adjusting ADS Ratio
After the company came up with an update on October 16, the Kazia Therapeutics (NASDAQ: KZIA) stock was in sharp focus among investors and ended up with gains of 58% for the day.
Kazia Therapeutics Adjusts ADS Ratio to Boost Nasdaq Listing
The company announced at the time that it had made plans to change the ratio of its ADS (American Depository Shares) in order to boost the price of the shares trading on NASDAQ. The changed ratio would come into effect on October 28, 2024, the company stated.
The change would enable Kazia Therapeutics to fulfill the minimum bid price requirements of the NASDAQ. However, the change in the ratio would not have an effect on the number of underlying ordinary shares. The stock would also continue to be listed on the NASDAQ under the ticker symbol KZIA.
Today’s Focus
The news was welcomed with considerable enthusiasm by investors, and the rally in the stock was an indication of the same. It is now going to be interesting to see if the Kazia Therapeutics stock manages to emerge as one of the hot stocks for the day this morning or not. It could be a good time for investors to consider adding the Kazia Therapeutics stock to their watch lists.
Traders Notes
| +/- EMA(20) | 0.41 (+33.07%) |
| +/- SMA(50) | 0.39 (+39.90%) |
| +/- SMA(200) | 0.34 (+60.47%) |
| 5-Day Perf. | +34.38% |
| 1-Month Perf. | +60.47% |
| 3-Month Perf. | -8.02% |
| 6-Month Perf. | +57.6% |
| YTD Perf. | +24.14% |
| 1-Year Perf. | -13.42% |
| RSI(14) | 66.85 |
| ATR(14) | 0.05 |
| ADX(14) | 22.4 |
| Beta (5Y) | 0.61 |
