Suvretta Capital Management LLC has recently announced that it has increased stake in Kezar Life Sciences Inc. (NASDAQ:KZR) by 96.55%. After grabbing 6.89 million shares, the institutional investor is now in possession of 3.38 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.73% having worth around $16.74 million. Moreover, Prosight Management LP increased its share by 0.87 million to have a control over 4.07 million shares. And BlackRock Fund Advisors raised its holdings to 0.16 million shares by acquiring 3.95 million shares or 5.58% of the stake.
Kezar Life Sciences Inc. (KZR) concluded trading on 05/24/23 at a closing price of $2.82, with 1.02 million shares of worth about $2.87 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -62.35% during that period and on Wednesday the price saw a loss of about -6.62%. Currently the company’s common shares owned by public are about 72.33M shares, out of which, 54.06M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the KZR stock and their offered price forecasts bring an average price target of $15.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $19.00 and could fall to a lowest price of $13.00. The stock’s current price level is 81.81% above of average price target set by the analysts, while a rise to estimated low would result in gain of 78.31% for the stock. However, touching the estimated high of $19.00 would mean a gain of 85.16% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 22 times over the past 12 months. They bought 60,060 shares in 2 of the transactions. In 20 selling transactions, insiders dumped 661,059 shares.
SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Kezar Life Sciences Inc. SPDR S&P Biotech ETF is currently holding 2.15 million shares of worth totaling $5.22 million. The company recently came buying 37565.0 shares which brought its stake up to 3.03% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 1.15 million shares, have now control over 1.63% of the stake in the company. It holds 16880.0 shares of worth $2.8 million.
However, the stock later moved at a day high price of 3.0200, or with a loss of -6.62%. Stock saw a price change of 0.00% in past 5 days and over the past one month there was a price change of 15.10%. Year-to-date (YTD), KZR shares are showing a performance of -59.94% which decreased to -48.82% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.25 but also hit the highest price of $11.02 during that period. The average intraday trading volume for Kezar Life Sciences Inc. shares is 1.06 million. The stock is currently trading 5.34% above its 20-day simple moving average (SMA20), while that difference is down -2.56% for SMA50 and it goes to -56.36% lower than SMA200.
Suvretta Capital Management LLC acquired 6.89 million shares of Kezar Life Sciences Inc. having value of about $16.74 million. Data submitted at the U.S SEC by Suvretta Capital Management LLC revealed that the firm now holds 3.38 million shares in the company valued at close to $9540982.14, or have control over 96.55% stake in the company. Kezar Life Sciences Inc. (NASDAQ: KZR) currently have 72.33M outstanding shares and institutions hold larger chunk of about 86.30% of that. Holding of mutual funds in the company is about 22.83% while other institutional holders and individual stake holders have control over 54.03% and 18.83% of the stake respectively.
The stock has a current market capitalization of $184.65M and its 3Y-monthly beta is at 0.15. It has posted earnings per share of -$1.06 in the same period. It has Quick Ratio of 19.40 while making debt-to-equity ratio of 0.04. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for KZR, volatility over the week remained 7.98% while standing at 7.24% over the month.
Analysts are in expectations that Kezar Life Sciences Inc. (KZR) stock would likely to be making an EPS of -$0.32 in the current quarter, while forecast for next quarter EPS is -$0.33 and it is -$1.35 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.34 which is -$0.28 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.25 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 2.20% while it is estimated to decrease by -3.80% in next year.
Analysts at 6 brokerage firms have issued recommendations for the Kezar Life Sciences Inc. (KZR)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 6 Wall Street analysts, 5 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
