Tang Capital Management LLC Trims Stock Holdings in Kezar Life Sciences, Inc. (NASDAQ:KZR)

Tang Capital Management LLC decreased its holdings in Kezar Life Sciences, Inc. (NASDAQ:KZR) by 80.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 720,000 shares of the company’s stock after selling 2,920,300 shares during the quarter. Tang Capital Management LLC owned about 0.10% of Kezar Life Sciences worth $4,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KZR. JPMorgan Chase & Co. boosted its stake in shares of Kezar Life Sciences by 613.8% in the fourth quarter. JPMorgan Chase & Co. now owns 11,884 shares of the company’s stock worth $80,000 after acquiring an additional 10,219 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Kezar Life Sciences in the fourth quarter worth about $217,000. BML Capital Management LLC bought a new position in shares of Kezar Life Sciences in the fourth quarter worth about $327,000. Shay Capital LLC bought a new position in Kezar Life Sciences during the fourth quarter valued at approximately $398,000. Finally, Peapod Lane Capital LLC bought a new position in Kezar Life Sciences during the fourth quarter valued at approximately $833,000. Institutional investors own 67.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, William Blair reissued an “outperform” rating on shares of Kezar Life Sciences in a research note on Friday, February 28th.

Kezar Life Sciences Price Performance

Shares of Kezar Life Sciences stock opened at $4.07 on Friday. The stock has a 50 day moving average of $4.64 and a 200 day moving average of $5.94. Kezar Life Sciences, Inc. has a 12 month low of $3.62 and a 12 month high of $9.18. The firm has a market cap of $29.74 million, a PE ratio of -0.31 and a beta of 0.61. The company has a current ratio of 7.65, a quick ratio of 7.65 and a debt-to-equity ratio of 0.05.

Kezar Life Sciences (NASDAQ:KZR) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($2.27) EPS for the quarter, beating analysts’ consensus estimates of ($2.56) by $0.29. On average, research analysts expect that Kezar Life Sciences, Inc. will post -4.39 EPS for the current fiscal year.

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.