Victory Capital Management Inc. reduced its stake in Kezar Life Sciences, Inc. (NASDAQ:KZR – Get Rating) by 14.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,359,492 shares of the company's stock after selling 410,606 shares during the quarter. Victory Capital Management Inc. owned 3.91% of Kezar Life Sciences worth $20,315,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KZR. Great West Life Assurance Co. Can acquired a new position in shares of Kezar Life Sciences during the 3rd quarter worth about $26,000. Robeco Institutional Asset Management B.V. acquired a new position in Kezar Life Sciences in the 3rd quarter valued at about $68,000. Amalgamated Bank bought a new stake in Kezar Life Sciences in the 1st quarter valued at about $70,000. Arizona State Retirement System bought a new stake in Kezar Life Sciences in the 2nd quarter valued at about $95,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Kezar Life Sciences in the 2nd quarter valued at about $102,000. 84.03% of the stock is currently owned by institutional investors and hedge funds.
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Insider Buying and Selling
In related news, major shareholder Morningside Venture Investment sold 5,000 shares of the stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $6.77, for a total transaction of $33,850.00. Following the transaction, the insider now directly owns 5,881,078 shares of the company's stock, valued at $39,814,898.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 23,276 shares of company stock valued at $160,133 over the last ninety days. 7.80% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Separately, Wells Fargo & Company cut their price objective on shares of Kezar Life Sciences from $17.00 to $14.00 and set an "overweight" rating for the company in a report on Tuesday, January 3rd.
Kezar Life Sciences Price Performance
KZR stock opened at $7.01 on Wednesday. The company has a 50 day simple moving average of $7.02 and a 200 day simple moving average of $8.29. The stock has a market cap of $479.33 million, a price-to-earnings ratio of -6.94 and a beta of 0.23. Kezar Life Sciences, Inc. has a 1 year low of $4.30 and a 1 year high of $18.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 31.15 and a quick ratio of 31.15.
Kezar Life Sciences (NASDAQ:KZR – Get Rating) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.01. Research analysts anticipate that Kezar Life Sciences, Inc. will post -1.03 EPS for the current fiscal year.
About Kezar Life Sciences
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Kezar Life Sciences, Inc is a clinical-stage biopharmaceutical company which engages in the development of novel small molecule therapeutics to treat autoimmunity and cancer in South San Francisco and California. Its product pipeline include KZR-616, KZR-261, and KZR-TBD. The company was founded by John Fowler, Christopher J.
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