Kezar Life Sciences Inc (NASDAQ:KZR) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,117,200 shares, a decline of 8.6% from the June 15th total of 1,222,400 shares. Based on an average daily trading volume, of 114,400 shares, the short-interest ratio is currently 9.8 days. Currently, 10.0% of the company’s shares are sold short.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in Kezar Life Sciences by 131,900.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,640 shares of the company’s stock worth $47,000 after purchasing an additional 2,638 shares during the period. New York State Common Retirement Fund acquired a new position in Kezar Life Sciences in the 4th quarter worth $73,000. BlackRock Inc. boosted its stake in Kezar Life Sciences by 1.9% in the 4th quarter. BlackRock Inc. now owns 245,932 shares of the company’s stock worth $5,804,000 after purchasing an additional 4,486 shares during the period. Northern Trust Corp boosted its stake in Kezar Life Sciences by 8.7% in the 4th quarter. Northern Trust Corp now owns 56,993 shares of the company’s stock worth $1,345,000 after purchasing an additional 4,581 shares during the period. Finally, Metropolitan Life Insurance Co NY acquired a new position in Kezar Life Sciences in the 1st quarter worth $89,000. 51.89% of the stock is owned by hedge funds and other institutional investors.
Shares of KZR stock traded up $0.11 on Tuesday, hitting $5.88. The stock had a trading volume of 53,847 shares, compared to its average volume of 95,961. Kezar Life Sciences has a twelve month low of $5.50 and a twelve month high of $36.33. The firm has a market cap of $112.42 million and a price-to-earnings ratio of -2.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 21.81 and a current ratio of 21.81. The company has a fifty day simple moving average of $7.29.
Several equities analysts have recently issued reports on the stock. HC Wainwright decreased their price target on shares of Bausch Health Companies from $58.00 to $50.00 and set a “buy” rating for the company in a report on Monday. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th.
Kezar Life Sciences Company Profile
Kezar Life Sciences, Inc, a clinical-stage biotechnology company, engages in the discovery and development of small molecule therapeutics to treat unmet needs in autoimmunity and cancer in the United States. Its lead product candidate, KZR-616, a selective immunoproteasome inhibitor that is in Phase 1b/2 clinical trials in lupus and lupus nephritis.
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