Granahan Investment Management LLC Raises Stock Position in Kezar Life Sciences, Inc. (NASDAQ:KZR)

Granahan Investment Management LLC grew its holdings in Kezar Life Sciences, Inc. (NASDAQ:KZR) by 62.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,121,336 shares of the company’s stock after buying an additional 430,955 shares during the period. Granahan Investment Management LLC owned approximately 1.55% of Kezar Life Sciences worth $3,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in KZR. Amundi acquired a new position in Kezar Life Sciences during the 4th quarter valued at approximately $32,000. Acadian Asset Management LLC acquired a new position in Kezar Life Sciences in the 1st quarter valued at about $45,000. Tower Research Capital LLC TRC lifted its holdings in shares of Kezar Life Sciences by 88.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,777 shares of the company’s stock worth $58,000 after acquiring an additional 3,190 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Kezar Life Sciences during the 4th quarter worth approximately $71,000. Finally, HRT Financial LP purchased a new stake in shares of Kezar Life Sciences in the 1st quarter valued at approximately $81,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

Kezar Life Sciences Price Performance

Shares of KZR opened at $1.21 on Monday. Kezar Life Sciences, Inc. has a twelve month low of $1.19 and a twelve month high of $10.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 17.73 and a current ratio of 17.73. The firm’s 50 day moving average price is $1.96 and its 200 day moving average price is $2.76. The firm has a market cap of $87.60 million, a PE ratio of -1.05 and a beta of 0.16.

Kezar Life Sciences (NASDAQ:KZR) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). As a group, research analysts expect that Kezar Life Sciences, Inc. will post -1.38 EPS for the current fiscal year.

Analyst Ratings Changes

KZR has been the subject of several recent analyst reports. Wells Fargo & Company cut shares of Kezar Life Sciences from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 11th. HC Wainwright reduced their price target on shares of Kezar Life Sciences from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 11th.

Kezar Life Sciences 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.