Short Interest in Kezar Life Sciences, Inc. (NASDAQ:KZR) Drops By 61.0%

Kezar Life Sciences, Inc. (NASDAQ:KZR) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 47,000 shares, a drop of 61.0% from the February 13th total of 120,600 shares. Based on an average daily trading volume, of 36,700 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.8% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Kezar Life Sciences from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, December 19th. HC Wainwright reaffirmed a “neutral” rating on shares of Kezar Life Sciences in a research note on Monday, December 2nd. Finally, William Blair reissued an “outperform” rating on shares of Kezar Life Sciences in a research report on Friday, February 28th.

Institutional Trading of Kezar Life Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stonepine Capital Management LLC increased its stake in shares of Kezar Life Sciences by 42.0% during the 3rd quarter. Stonepine Capital Management LLC now owns 1,491,305 shares of the company’s stock valued at $1,153,000 after acquiring an additional 440,853 shares during the last quarter. Ikarian Capital LLC increased its position in 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 last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $485,000 after purchasing an additional 81,678 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in shares of Kezar Life Sciences during the 4th quarter valued at $833,000. Finally, Shay Capital LLC acquired a new stake in shares of Kezar Life Sciences during the 4th quarter worth $398,000. 67.90% of the stock is owned by hedge funds and other institutional investors.

Kezar Life Sciences Trading Up 0.7 %

Shares of NASDAQ:KZR traded up $0.04 during trading on Friday, reaching $5.87. The stock had a trading volume of 4,143 shares, compared to its average volume of 65,187. The company has a quick ratio of 7.65, a current ratio of 7.65 and a debt-to-equity ratio of 0.05. The stock has a market cap of $42.83 million, a P/E ratio of -0.45 and a beta of 0.49. The business has a fifty day moving average price of $6.17 and a 200-day moving average price of $6.70. Kezar Life Sciences has a fifty-two week low of $5.20 and a fifty-two week high of $10.40.

About Kezar Life Sciences

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.