Kezar Life Sciences (NASDAQ:KZR) Shares Gap Down – Here’s What Happened

Shares of Kezar Life Sciences, Inc. (NASDAQ:KZR) gapped down prior to trading on Wednesday . The stock had previously closed at $7.50, but opened at $7.20. Kezar Life Sciences shares last traded at $7.22, with a volume of 38,681 shares trading hands.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of Kezar Life Sciences in a research report on Monday, October 14th.

Kezar Life Sciences Trading Up 8.6 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.58 and a current ratio of 9.58. The stock has a market capitalization of $593.22 million, a price-to-earnings ratio of -5.82 and a beta of 0.21. The business has a fifty day simple moving average of $0.68 and a 200 day simple moving average of $0.69.

Kezar Life Sciences (NASDAQ:KZR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.20) by $0.40. As a group, research analysts expect that Kezar Life Sciences, Inc. will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Kezar Life Sciences

Several large investors have recently added to or reduced their stakes in KZR. BNP Paribas Financial Markets grew its holdings in Kezar Life Sciences by 35.4% in the first quarter. BNP Paribas Financial Markets now owns 273,430 shares of the company’s stock worth $247,000 after purchasing an additional 71,543 shares during the period. Fidelis Capital Partners LLC bought a new stake in Kezar Life Sciences in the 1st quarter valued at about $25,000. Marquette Asset Management LLC acquired a new position in Kezar Life Sciences during the 1st quarter worth approximately $114,000. Vanguard Group Inc. boosted its holdings in Kezar Life Sciences by 1.0% in the first quarter. Vanguard Group Inc. now owns 3,094,224 shares of the company’s stock worth $2,790,000 after acquiring an additional 30,740 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Kezar Life Sciences by 42.5% in the first quarter. Acadian Asset Management LLC now owns 1,790,838 shares of the company’s stock valued at $1,613,000 after acquiring an additional 534,203 shares during the period. Institutional investors and hedge funds own 67.90% of the company’s stock.

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.