Kezar Life Sciences (NASDAQ:KZR) Stock Price Up 2.4% – Here’s Why

Kezar Life Sciences, Inc. (NASDAQ:KZR)’s share price shot up 2.4% on Wednesday . The stock traded as high as $6.62 and last traded at $6.39. 32,828 shares were traded during trading, a decline of 3% from the average session volume of 33,745 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on KZR shares. William Blair reaffirmed a “market perform” rating on shares of Kezar Life Sciences in a report on Wednesday, November 13th. Wells Fargo & Company dropped their price target on Kezar Life Sciences from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. Finally, HC Wainwright reissued a “neutral” rating on shares of Kezar Life Sciences in a research note on Monday, December 2nd.

Kezar Life Sciences Stock Performance

The stock’s 50 day simple moving average is $6.57 and its two-hundred day simple moving average is $6.75. The company has a market capitalization of $44.94 million, a P/E ratio of -0.47 and a beta of 0.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.65 and a quick ratio of 7.65.

Kezar Life Sciences (NASDAQ:KZR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.78) earnings per share for the quarter, topping the consensus estimate of ($3.03) by $0.25. As a group, research analysts expect that Kezar Life Sciences, Inc. will post -4.39 earnings per share for the current year.

Hedge Funds Weigh In On Kezar Life Sciences

Several large investors have recently made changes to their positions in KZR. XTX Topco Ltd boosted its stake in Kezar Life Sciences by 256.1% in the third quarter. XTX Topco Ltd now owns 52,148 shares of the company’s stock valued at $40,000 after acquiring an additional 37,504 shares during the last quarter. BML Capital Management LLC acquired a new position in shares of Kezar Life Sciences in the 4th quarter valued at $327,000. Geode Capital Management LLC boosted its position in shares of Kezar Life Sciences by 15.0% in the 3rd quarter. Geode Capital Management LLC now owns 626,912 shares of the company’s stock worth $485,000 after purchasing an additional 81,678 shares during the last quarter. Ikarian Capital LLC grew its stake in shares of Kezar Life Sciences by 23.0% during the third quarter. Ikarian Capital LLC now owns 1,068,992 shares of the company’s stock worth $827,000 after purchasing an additional 200,000 shares during the period. Finally, Peapod Lane Capital LLC acquired a new stake in shares of Kezar Life Sciences during the fourth quarter worth $833,000. 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.