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

Kezar Life Sciences, Inc. (NASDAQ:KZR)’s share price 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 traded.

Analysts Set New Price Targets

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

Kezar Life Sciences Stock Performance

The business has a 50 day simple moving average of $6.90 and a two-hundred day simple moving average of $6.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.58 and a quick ratio of 9.58.

Kezar Life Sciences (NASDAQ:KZR) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($2.80) EPS for the quarter, topping the consensus estimate of ($3.20) by $0.40. Sell-side analysts predict that Kezar Life Sciences, Inc. will post -11.95 earnings per share for the current fiscal year.

Institutional Trading of Kezar Life Sciences

A number of large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Kezar Life Sciences during the 2nd quarter valued at $63,000. Stonepine Capital Management LLC purchased a new stake in Kezar Life Sciences in the second quarter worth about $630,000. Mackenzie Financial Corp purchased a new stake in Kezar Life Sciences in the second quarter worth about $35,000. Acadian Asset Management LLC increased its position 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 valued at $1,112,000 after purchasing an additional 64,356 shares during the period. Finally, Acuitas Investments LLC raised its holdings in shares of Kezar Life Sciences by 42.8% in the 2nd quarter. Acuitas Investments LLC now owns 986,785 shares of the company’s stock valued at $592,000 after purchasing an additional 295,956 shares in the last quarter. Hedge funds and other institutional investors 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.