Kezar Life Sciences (NASDAQ:KZR) Shares Gap Down – Should You Sell?

Kezar Life Sciences, Inc. (NASDAQ:KZR)’s stock 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.

Analyst Upgrades and Downgrades

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

Kezar Life Sciences Stock Down 9.0 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.58 and a current ratio of 9.58. The stock has a 50 day moving average of $6.90 and a 200-day moving average of $6.89.

Kezar Life Sciences (NASDAQ:KZR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.20) by $0.40. On average, sell-side analysts expect that Kezar Life Sciences, Inc. will post -11.95 earnings per share for the current year.

Hedge Funds Weigh In On Kezar Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC bought a new position in shares of Kezar Life Sciences in the 1st quarter valued at about $25,000. Mackenzie Financial Corp bought a new stake in shares of Kezar Life Sciences in the 2nd quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Kezar Life Sciences in the 2nd quarter worth approximately $63,000. Marquette Asset Management LLC bought a new position in shares of Kezar Life Sciences during the 1st quarter valued at approximately $114,000. Finally, BNP Paribas Financial Markets raised its holdings in Kezar Life Sciences by 35.4% during the 1st quarter. BNP Paribas Financial Markets now owns 273,430 shares of the company’s stock valued at $247,000 after buying an additional 71,543 shares during the period. 67.90% of the stock is owned by hedge funds and other institutional investors.

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.