Kezar Life Sciences, Inc. (NASDAQ:KZR) Sees Significant Decline in Short Interest

Kezar Life Sciences, Inc. (NASDAQ:KZR) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 176,297 shares, a drop of 29.7% from the December 15th total of 250,843 shares. Based on an average daily volume of 29,523 shares, the days-to-cover ratio is currently 6.0 days. Approximately 2.7% of the shares of the company are sold short. Approximately 2.7% of the shares of the company are sold short. Based on an average daily volume of 29,523 shares, the days-to-cover ratio is currently 6.0 days.

Kezar Life Sciences Price Performance

Shares of KZR stock remained flat at $6.20 during midday trading on Monday. 14,401 shares of the stock were exchanged, compared to its average volume of 28,524. The business’s fifty day moving average price is $6.25 and its 200 day moving average price is $5.10. Kezar Life Sciences has a 52 week low of $3.53 and a 52 week high of $6.65. The company has a current ratio of 7.07, a quick ratio of 7.06 and a debt-to-equity ratio of 0.02. The stock has a market cap of $45.38 million, a price-to-earnings ratio of -0.73 and a beta of 0.55.

Kezar Life Sciences (NASDAQ:KZR) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($1.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.81) by $0.28. As a group, research analysts anticipate that Kezar Life Sciences will post -4.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kezar Life Sciences

A number of large investors have recently bought and sold shares of the stock. Peapod Lane Capital LLC raised its holdings in shares of Kezar Life Sciences by 9.3% in the third quarter. Peapod Lane Capital LLC now owns 125,773 shares of the company’s stock worth $491,000 after acquiring an additional 10,650 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Kezar Life Sciences during the third quarter valued at $51,000. Woodline Partners LP purchased a new position in Kezar Life Sciences in the 1st quarter valued at about $125,000. FNY Investment Advisers LLC purchased a new position in Kezar Life Sciences in the 4th quarter valued at about $314,000. Finally, Stonepine Capital Management LLC boosted its stake in shares of Kezar Life Sciences by 69.9% during the 2nd quarter. Stonepine Capital Management LLC now owns 169,859 shares of the company’s stock worth $778,000 after purchasing an additional 69,859 shares during the last quarter. Institutional investors and hedge funds own 67.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KZR. TD Cowen downgraded Kezar Life Sciences from a “strong-buy” rating to a “strong sell” rating in a report on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Kezar Life Sciences in a research report on Monday, December 22nd. Jefferies Financial Group cut shares of Kezar Life Sciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $18.00 to $7.00 in a research note on Friday, October 17th. William Blair reissued a “market perform” rating on shares of Kezar Life Sciences in a report on Friday, October 17th. Finally, Wall Street Zen raised Kezar Life Sciences to a “hold” rating in a report on Saturday, November 22nd. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $6.00.

About Kezar Life Sciences

Kezar Life Sciences is a clinical-stage biotechnology company focused on the discovery and development of novel small-molecule therapies that modulate the innate immune system. The company’s research centers on selective inhibition of the immunoproteasome, a key protein complex involved in antigen processing and secretion of inflammatory cytokines. By targeting this pathway, Kezar aims to address unmet medical needs in autoimmune and inflammatory diseases with high specificity and a favorable safety profile.

The company’s lead development candidate, KZR-616, is a selective immunoproteasome inhibitor being evaluated in multiple clinical trials for autoimmune conditions such as systemic lupus erythematosus, lupus nephritis, polymyositis and dermatomyositis.