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

Kezar Life Sciences, Inc. (NASDAQ:KZR)’s share price gapped down before the market opened 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 traded.

Analyst Ratings Changes

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

Kezar Life Sciences Stock Performance

The stock has a market cap of $593.22 million, a P/E ratio of -5.82 and a beta of 0.21. The company has a current ratio of 9.58, a quick ratio of 9.58 and a debt-to-equity ratio of 0.05. The company’s 50-day simple moving average is $0.68 and its 200 day simple moving average is $0.69.

Kezar Life Sciences (NASDAQ:KZR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($2.80) earnings per share for the quarter, topping the consensus estimate of ($3.20) by $0.40. As a group, sell-side analysts expect that Kezar Life Sciences, Inc. will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Kezar Life Sciences by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 3,094,224 shares of the company’s stock valued at $2,790,000 after acquiring an additional 30,740 shares during the period. Acadian Asset Management LLC boosted its stake in Kezar Life Sciences by 3.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,855,194 shares of the company’s stock worth $1,112,000 after purchasing an additional 64,356 shares during the period. Affinity Asset Advisors LLC purchased a new position in Kezar Life Sciences during the 1st quarter valued at about $1,588,000. Stonepine Capital Management LLC bought a new stake in shares of Kezar Life Sciences during the second quarter valued at about $630,000. Finally, Acuitas Investments LLC increased its position in shares of Kezar Life Sciences by 42.8% during the second quarter. Acuitas Investments LLC now owns 986,785 shares of the company’s stock valued at $592,000 after buying an additional 295,956 shares during the period. 67.90% of the stock is currently owned 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 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.