Kezar Life Sciences (NASDAQ:KZR) Trading Down 6.2%

Kezar Life Sciences, Inc. (NASDAQ:KZR)’s stock price was down 6.2% during mid-day trading on Monday . The stock traded as low as $0.80 and last traded at $0.81. Approximately 578,223 shares changed hands during trading, a decline of 19% from the average daily volume of 710,630 shares. The stock had previously closed at $0.86.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Kezar Life Sciences in a research note on Friday, March 15th.

Kezar Life Sciences Trading Down 6.2 %

The stock’s 50 day simple moving average is $0.90 and its 200 day simple moving average is $0.89. The firm has a market cap of $58.93 million, a PE ratio of -0.57 and a beta of 0.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.66 and a current ratio of 11.66.

Kezar Life Sciences (NASDAQ:KZR) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.04. On average, sell-side analysts forecast that Kezar Life Sciences, Inc. will post -1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kezar Life Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of KZR. BlackRock Inc. raised its holdings in Kezar Life Sciences by 14.2% during the 2nd quarter. BlackRock Inc. now owns 5,089,147 shares of the company’s stock valued at $12,468,000 after buying an additional 631,157 shares during the last quarter. State Street Corp raised its stake in shares of Kezar Life Sciences by 381.3% during the third quarter. State Street Corp now owns 3,537,701 shares of the company’s stock valued at $30,460,000 after acquiring an additional 2,802,611 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Kezar Life Sciences by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,063,484 shares of the company’s stock valued at $2,902,000 after acquiring an additional 22,917 shares during the last quarter. Granahan Investment Management LLC boosted its holdings in shares of Kezar Life Sciences by 31.2% during the fourth quarter. Granahan Investment Management LLC now owns 1,906,175 shares of the company’s stock worth $1,806,000 after purchasing an additional 453,617 shares during the period. Finally, Sphera Funds Management LTD. grew its stake in shares of Kezar Life Sciences by 44.7% in the first quarter. Sphera Funds Management LTD. now owns 1,888,228 shares of the company’s stock worth $5,910,000 after purchasing an additional 583,045 shares during the last quarter. Institutional investors own 67.90% of the company’s stock.

About Kezar Life Sciences

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.