Kezar Life Sciences, Inc. (NASDAQ: KZR – Get an assessment) top shareholder Morningside Venture Investment sold 28,700 shares of the company in a transaction that took place on Monday, October 3. The stock was sold at an average price of $8.78, for a total value of $251,986.00. Following the completion of the sale, the insider now owns 6,080,352 shares of the company, valued at approximately $53,385,490.56. The transaction was disclosed in an SEC filing, available at this link. Major shareholders who own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Kezar Life Sciences Stock Performance
Shares of KZR traded down $0.23 during trading hours on Wednesday, hitting $8.28. 771,155 shares of the company were traded, against an average volume of 1,313,077. The company has a current ratio of 39.64, a quick ratio of 39.64 and a debt ratio of 0.03. The company has a 50-day moving average of $9.58 and a 200-day moving average of $9.74. Kezar Life Sciences, Inc. has a fifty-two-week low of $4.30 and a fifty-two-week high of $18.55.
Kezar Life Sciences (NASDAQ:KZR – Get an assessment) last reported quarterly earnings data on Thursday, August 11. The company reported ($0.25) earnings per share for the quarter, beating analyst consensus estimates of ($0.27) by $0.02. On average, equity research analysts expect Kezar Life Sciences, Inc. to post -1.07 EPS for the current fiscal year.
Wall Street analysts predict growth
Several equity research analysts have commented on the company. Jonestrading raised its price target on Kezar Life Sciences from $17.00 to $20.00 in a research report on Tuesday, June 28. Wells Fargo & Company raised its price target on Kezar Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a Tuesday, June 28 research report. Finally, HC Wainwright raised its price target on Kezar Life Sciences from $20.00 to $21.00 and gave the stock a “buy” rating in a Friday, August 12 research report.
Hedge funds weigh on Kezar Life Sciences
Hedge funds and other institutional investors have recently changed their stakes in the company. Dorsey Wright & Associates acquired a new position in Kezar Life Sciences during the first quarter worth $60,000. Amalgamated Bank acquired a new position in Kezar Life Sciences stock during Q1 worth approximately $70,000. Qube Research & Technologies Ltd bought a new stake in shares of Kezar Life Sciences in the first quarter worth approximately $167,000. Fox Run Management LLC acquired a new stake in Kezar Life Sciences during the first quarter worth approximately $180,000. Finally, Arizona State Retirement System bought a new position in Kezar Life Sciences during the second quarter worth about $95,000. 91.01% of the shares are held by hedge funds and other institutional investors.
About Kezar Life Sciences
Kezar Life Sciences, Inc, a clinical-stage biotechnology company, engages in the discovery and development of novel small molecule therapies to address unmet needs in immune-mediated diseases and cancer in the United States . The Company’s lead product candidate is KZR-616, a selective immunoproteasome inhibitor that is in Phase 2 clinical trials for various indications, including lupus nephritis, dermatomyositis and polymyositis; and phase 1b clinical trials in systemic lupus erythematosus and lupus nephritis.
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