What is the 13F Pro Quality Score for KZR?

13F Pro ranks Kezar Life Sciences, Inc. (KZR) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View KZR's current score at https://13fpro.ai/research/KZR (free sign-up required for the full ranking).

Where does 13F Pro source KZR data?

All Kezar Life Sciences, Inc. fundamentals and ownership data come directly from SEC EDGAR. Kezar Life Sciences, Inc. files with the SEC under CIK 1645666. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is KZR in?

Kezar Life Sciences, Inc. (KZR) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is KZR research updated on 13F Pro?

KZR's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Kezar Life Sciences, Inc.(KZR)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Limited institutional coverage

Quality rankings require at least 50 unique 13-F institutional holders to ensure peer comparisons are meaningful. Only 46 institutional filers currently hold this stock.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

KZR Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Kezar Life Sciences, Inc. (KZR), a Healthcare sector company. KZR is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least 50 unique 13-f institutional holders to ensure peer comparisons are meaningful. only 46 institutional filers currently hold this stock. Based on the latest XBRL financial filings (Q1 2026), Kezar Life Sciences, Inc. reports net income of $-5.8M, free cash flow of $-7.4M. Top institutional holders of KZR by reported 13-F value include BML Capital Management,, SUVRETTA CAPITAL MANAGEMENT,, TANG CAPITAL MANAGEMENT, based on the most recent SEC filings. KZR trades on the Nasdaq exchange and files with the SEC under CIK 1645666. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate KZR daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Kezar Life Sciences, Inc. directly from SEC EDGAR.

Net Income

Q1 2026

$-5.8M

Free Cash Flow

Q1 2026

$-7.4M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

$0.00FY 2025

FY20 —FY23 $7.0MFY24 $0.00FY25 $0.00

Net Income

+33.1% YoY

$-56.0MFY 2025

FY20 $-41.7MFY23 $-101.9MFY24 $-83.7MFY25 $-56.0M

Operating Income

+34.8% YoY

$-59.1MFY 2025

FY20 $-43.0MFY23 $-111.4MFY24 $-90.6MFY25 $-59.1M

EPS (Diluted)

+33.3% YoY

$-7.66FY 2025

FY20 $-0.95FY23 $-14.04FY24 $-11.49FY25 $-7.66

Total Assets

-47.0% YoY

$76.6MFY 2025

FY20 $151.8MFY23 $221.2MFY24 $144.7MFY25 $76.6M

Total Debt

-100.0% YoY

$0.00FY 2025

FY20 —FY23 $10.1MFY24 $10.3MFY25 $0.00

Op. Cash Flow

+30.2% YoY

$-51.8MFY 2025

FY20 $-36.9MFY23 $-81.6MFY24 $-74.2MFY25 $-51.8M

Metric	FY 2025	FY 2024	FY 2023	FY 2020	FY 2019	FY 2018
Revenue	$0.00	$0.00 -100.0%	$7.0M	—	—	—
Net Income	$-56.0M +33.1%	$-83.7M +17.8%	$-101.9M -144.0%	$-41.7M -19.0%	$-35.1M -51.5%	$-23.2M
Operating Income	$-59.1M +34.8%	$-90.6M +18.7%	$-111.4M -159.4%	$-43.0M -15.0%	$-37.3M -51.0%	$-24.7M
EPS (Diluted)	$-7.66 +33.3%	$-11.49 +18.2%	$-14.04 -1377.9%	$-0.95	—	—
Total Assets	$76.6M -47.0%	$144.7M -34.6%	$221.2M +45.7%	$151.8M +69.6%	$89.5M -21.9%	$114.7M
Total Debt	$0.00 -100.0%	$10.3M +2.6%	$10.1M	—	—	—
Operating Cash Flow	$-51.8M +30.2%	$-74.2M +9.1%	$-81.6M -121.0%	$-36.9M -23.7%	$-29.9M -43.7%	$-20.8M

AI Insight: KZR Financial Trends

KZR's quarterly net loss narrowed sharply to -$6M in Q1 2026 — the smallest burn in the observed period — but equity has eroded by over 57% since Q2 2024.

• Net loss improved materially from -$22M in Q2 2024 to -$6M in Q1 2026, suggesting significant operating cost reduction.

• Operating cash outflow narrowed from -$17M per quarter to -$7M in Q1 2026, extending the cash runway.

• Total debt declined from $14M in Q3 2024 to $7M in Q3 2025, though Q4 2025 ticked back up to $10M; Q1 2026 data unavailable.

• Equity has contracted every quarter, falling from $151M in Q2 2024 to $65M in Q1 2026 — a cumulative $86M reduction.

⚠ Zero revenue across all reported periods; the business remains entirely pre-commercial, making loss-rate improvement the only near-term signal.

⚠ Equity runway at $65M in Q1 2026; at recent burn rates, dilutive financing or a catalyst is needed within a few quarters.

⚠ Net loss reversed from -$11M to -$15M in Q4 2025 before improving to -$6M in Q1 2026 — monitor whether Q1 2026 improvement is sustained.

AI Insight: KZR Ratio Trends

KZR remains deeply loss-making with return metrics deteriorating to -69.3% ROA on a TTM basis, though Q1 2026 shows a sharp single-quarter improvement.

• ROA worsened from -47.9% in Q2 2024 to -75.9% in Q4 2025, reflecting deepening capital consumption before a Q1 2026 bounce to -33.9%.

• ROIC hit -75.4% in Q4 2025, the worst reading in the dataset, before rebounding to -45.2% in Q1 2026.

• D/E ratio spiked to 0.15 in Q4 2025 from a stable 0.08–0.09 range, then data is unavailable for Q1 2026.

⚠ Q4 2025 ROE collapsed to -83.0% — worst in the series — suggesting a material one-off charge; nature and recurrence risk warrant scrutiny.

⚠ Q1 2026 single-quarter improvement (ROE -35.3%, ROA -33.9%) is encouraging but must be confirmed over subsequent quarters.

⚠ D/E missing for Q1 2026; whether leverage reverted from the Q4 2025 spike to 0.15 is a key balance-sheet inflection to track.

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Available Research

13F Pro tracks comprehensive data for Kezar Life Sciences, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of KZR

BML Capital Management, LLC
$5.3M720,787 sh
SUVRETTA CAPITAL MANAGEMENT, LLC
$5.3M716,759 sh
TANG CAPITAL MANAGEMENT LLC
$4.9M664,314 sh
VANGUARD CAPITAL MANAGEMENT LLC
$2.2M290,529 sh
Rangeley Capital, LLC
$1.8M243,073 sh
Affinity Asset Advisors, LLC
$1.7M229,076 sh
RENAISSANCE TECHNOLOGIES LLC
$1.4M188,426 sh
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$1.1M149,800 sh
MILLENNIUM MANAGEMENT LLC
$1.1M142,050 sh
Peapod Lane Capital LLC
$924.5K126,692 sh

Fund	Value	Shares
BML Capital Management, LLC	$5.3M	720,787
SUVRETTA CAPITAL MANAGEMENT, LLC	$5.3M	716,759
TANG CAPITAL MANAGEMENT LLC	$4.9M	664,314
VANGUARD CAPITAL MANAGEMENT LLC	$2.2M	290,529
Rangeley Capital, LLC	$1.8M	243,073
Affinity Asset Advisors, LLC	$1.7M	229,076
RENAISSANCE TECHNOLOGIES LLC	$1.4M	188,426
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$1.1M	149,800
MILLENNIUM MANAGEMENT LLC	$1.1M	142,050
Peapod Lane Capital LLC	$924.5K	126,692

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Is KZR a good stock to buy?

13F Pro's AI-powered analysis of Kezar Life Sciences, Inc. (KZR) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for KZR are available on the KZR stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own KZR?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling KZR. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Kezar Life Sciences, Inc.'s investment landscape.