Short Interest in Kezar Life Sciences, Inc. (NASDAQ:KZR) Decreases By 85.0%

Kezar Life Sciences, Inc. (NASDAQ:KZR) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 178,000 shares, a decrease of 85.0% from the October 15th total of 1,190,000 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily volume of 94,100 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Investors Weigh In On Kezar Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp bought a new stake in shares of Kezar Life Sciences during the 2nd quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Kezar Life Sciences during the 2nd quarter worth about $63,000. BNP Paribas Financial Markets raised its position in shares of Kezar Life Sciences by 35.4% in the 1st quarter. BNP Paribas Financial Markets now owns 273,430 shares of the company’s stock worth $247,000 after acquiring an additional 71,543 shares in the last quarter. Acuitas Investments LLC lifted its stake 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 during the period. Finally, Stonepine Capital Management LLC bought a new stake in shares of Kezar Life Sciences during the 2nd quarter valued at about $630,000. Institutional investors own 67.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kezar Life Sciences Trading Up 0.7 %

Shares of NASDAQ KZR traded up $0.05 during midday trading on Tuesday, reaching $7.49. 39,235 shares of the stock were exchanged, compared to its average volume of 74,355. Kezar Life Sciences has a 12 month low of $5.20 and a 12 month high of $11.35. The company has a market capitalization of $54.68 million, a price-to-earnings ratio of -0.55 and a beta of 0.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.58 and a quick ratio of 9.58. The business has a 50-day simple moving average of $7.06 and a two-hundred day simple moving average of $6.84.

Kezar Life Sciences (NASDAQ:KZR) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($2.80) earnings per share for the quarter, beating the consensus estimate of ($3.20) by $0.40. As a group, equities research analysts expect that Kezar Life Sciences will post -11.95 EPS for the current year.

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.