Kezar Life Sciences, Inc. (NASDAQ:KZR) Short Interest Update

Kezar Life Sciences, Inc. (NASDAQ:KZR) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,040,000 shares, a drop of 9.6% from the July 15th total of 1,150,000 shares. Based on an average daily volume of 635,300 shares, the days-to-cover ratio is presently 1.6 days.

Kezar Life Sciences Stock Performance

KZR stock traded down $0.01 during trading hours on Friday, reaching $0.61. The stock had a trading volume of 188,602 shares, compared to its average volume of 654,750. The stock has a 50-day simple moving average of $0.63 and a 200 day simple moving average of $0.77. Kezar Life Sciences has a fifty-two week low of $0.54 and a fifty-two week high of $1.69. The stock has a market capitalization of $44.66 million, a PE ratio of -0.44 and a beta of 0.28. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.48 and a quick ratio of 11.49.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Kezar Life Sciences in a report on Wednesday.

Hedge Funds Weigh In On Kezar Life Sciences

Several institutional investors and hedge funds have recently modified their holdings of KZR. Mackenzie Financial Corp bought a new stake in shares of Kezar Life Sciences during the second quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Kezar Life Sciences in the 2nd quarter valued at $63,000. 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 worth $1,112,000 after buying an additional 64,356 shares during the period. Acuitas Investments LLC lifted its holdings in shares of Kezar Life Sciences by 42.8% during the second quarter. Acuitas Investments LLC now owns 986,785 shares of the company’s stock worth $592,000 after buying an additional 295,956 shares in the last quarter. Finally, Ikarian Capital LLC boosted its position in shares of Kezar Life Sciences by 1.8% in the first quarter. Ikarian Capital LLC now owns 868,992 shares of the company’s stock valued at $783,000 after acquiring an additional 15,601 shares during the period. 67.90% of the stock is currently owned by institutional investors and hedge funds.

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.