Kezar Life Sciences, Inc. (NASDAQ:KZR) Sees Large Decrease in Short Interest

Kezar Life Sciences, Inc. (NASDAQ:KZR) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 83,700 shares, a drop of 53.0% from the October 31st total of 178,000 shares. Based on an average daily volume of 95,400 shares, the short-interest ratio is currently 0.9 days. Approximately 1.4% of the company’s shares are sold short.

Kezar Life Sciences Stock Down 0.4 %

Shares of NASDAQ:KZR traded down $0.03 during mid-day trading on Thursday, hitting $7.40. 16,049 shares of the company traded hands, compared to its average volume of 73,015. The firm has a market cap of $53.99 million, a P/E ratio of -0.56 and a beta of 0.22. The firm’s 50 day simple moving average is $7.48 and its 200 day simple moving average is $6.79. Kezar Life Sciences has a 52-week low of $5.20 and a 52-week high of $11.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.65 and a current ratio of 7.65.

Kezar Life Sciences (NASDAQ:KZR) last announced its earnings results on Tuesday, November 12th. The company reported ($2.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.03) by $0.25. On average, equities analysts anticipate that Kezar Life Sciences will post -6.3 EPS for the current year.

Hedge Funds Weigh In On Kezar Life Sciences

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Kezar Life Sciences by 1.0% during the first quarter. Vanguard Group Inc. now owns 3,094,224 shares of the company’s stock valued at $2,790,000 after purchasing an additional 30,740 shares during the last quarter. XTX Topco Ltd boosted its position in Kezar Life Sciences by 256.1% during the 3rd quarter. XTX Topco Ltd now owns 52,148 shares of the company’s stock valued at $40,000 after purchasing an additional 37,504 shares during the period. Mackenzie Financial Corp bought a new position in Kezar Life Sciences during the 2nd quarter worth $35,000. Acadian Asset Management LLC grew its stake in Kezar Life Sciences by 3.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,855,194 shares of the company’s stock worth $1,112,000 after buying an additional 64,356 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Kezar Life Sciences by 15.0% in the third quarter. Geode Capital Management LLC now owns 626,912 shares of the company’s stock worth $485,000 after buying an additional 81,678 shares during the period. 67.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on KZR. Wells Fargo & Company dropped their price target on Kezar Life Sciences from $20.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. William Blair restated a “market perform” rating on shares of Kezar Life Sciences in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Kezar Life Sciences in a research note on Monday, October 14th.

Kezar Life Sciences Company Profile

Kezar Life Sciences, Inc, a clinical-stage biotechnology company, engages in the discovery and development of novel small molecule therapeutics to treat unmet needs in immune-mediated diseases and cancer in the United States. The company's lead product candidate is zetomipzomib (KZR-616), a selective immunoproteasome inhibitor that is in Phase 2b clinical trials for various indications, including lupus nephritis, dermatomyositis, and polymyositis; Phase 1b clinical trials in systemic lupus erythematosus; and completed Phase 2a clinical trials in lupus nephritis.