Kezar Life Sciences
KZR was delisted on the 8th of May, 2026.
39 hedge funds and large institutions have $16.5M invested in Kezar Life Sciences in 2025 Q3 according to their latest regulatory filings, with 3 funds opening new positions, 9 increasing their positions, 8 reducing their positions, and 4 closing their positions.
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
13% more repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 8
3% less funds holding
Funds holding: 40 → 39 (-1)
19% less capital invested
Capital invested by funds: $20.5M → $16.5M (-$3.96M)
25% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 4
61.22% less ownership
Funds ownership: 61.22% → 0% (-61%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Stonepine Capital Management
Bend,
Oregon
|
+$875K |
| 2 |
BCM
BML Capital Management
Zionsville,
Indiana
|
+$351K |
| 3 |
BCM
Bluefin Capital Management
New York
|
+$138K |
| 4 |
Renaissance Technologies
New York
|
+$117K |
| 5 |
Citadel Advisors
Miami,
Florida
|
+$74.7K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
APM
Avidity Partners Management
Dallas,
Texas
|
-$2.3M |
| 2 |
SFM
Sphera Funds Management
Tel Aviv,
Israel
|
-$268K |
| 3 |
Millennium Management
New York
|
-$118K |
| 4 |
ACM
ADAR1 Capital Management
Austin,
Texas
|
-$92K |
| 5 |
Fidelity Investments
Boston,
Massachusetts
|
-$57.1K |
KZR Hedge Fund Activity: Q3 2025 in Review
39 of the 7,629 institutional investors tracked by Wall St. Rank reported a position in Kezar Life Sciences (KZR) for Q3 2025, worth a combined $16.5M — down 19% from $20.5M a quarter earlier.
Sellers outnumbered buyers: 4 funds closed out of KZR and 3 opened new positions — a net loss of 1 holder — while 8 trimmed existing stakes and 9 added.
The largest buyer was Stonepine Capital Management, adding an estimated $875K. The largest seller was Avidity Partners Management, exiting entirely with an estimated $2.3M sold.
- 39 institutional investors held Kezar Life Sciences (KZR) as of Q3 2025, down from 40 in Q2 2025.
- Funds reported $16.5M of Kezar Life Sciences stock for Q3 2025, down 19% quarter-over-quarter.
- 3 funds opened new Kezar Life Sciences positions in Q3 2025 and 4 closed out, a net change of -1 holder.
- The largest Kezar Life Sciences buyer in Q3 2025 was Stonepine Capital Management, an estimated $875K added.
- The largest Kezar Life Sciences seller in Q3 2025 was Avidity Partners Management, an estimated $2.3M sold.
Based on aggregated 13F filings for Q3 2025.