Kezar Life Sciences
KZR was delisted on the 8th of May, 2026.
43 hedge funds and large institutions have $28.1M invested in Kezar Life Sciences in 2025 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 10 increasing their positions, 17 reducing their positions, and 6 closing their positions.
83% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 6
70% more capital invested
Capital invested by funds: $16.5M → $28.1M (+$11.5M)
10% more funds holding
Funds holding: 39 → 43 (+4)
3.02% more ownership
Funds ownership: 57.89% → 60.91% (+3%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
41% less repeat investments, than reductions
Existing positions increased: 10 | Existing positions reduced: 17
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NCM
Nantahala Capital Management
New Canaan,
Connecticut
|
+$1.61M |
| 2 |
AAA
Affinity Asset Advisors
New York
|
+$1.34M |
| 3 |
RC
Rangeley Capital
New Canaan,
Connecticut
|
+$501K |
| 4 |
AC
Aldebaran Capital
Carmel,
Indiana
|
+$470K |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$427K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Stonepine Capital Management
Bend,
Oregon
|
-$1.32M |
| 2 |
O
OrbiMed
New York
|
-$752K |
| 3 |
TCM
Tang Capital Management
San Diego,
California
|
-$325K |
| 4 |
Two Sigma Advisers
New York
|
-$212K |
| 5 |
SC
Shay Capital
New York
|
-$198K |
KZR Hedge Fund Activity: Q4 2025 in Review
43 of the 8,281 institutional investors tracked by Wall St. Rank reported a position in Kezar Life Sciences (KZR) for Q4 2025, worth a combined $28.1M — up 70% from $16.5M a quarter earlier.
Buyers outnumbered sellers: 11 funds opened new KZR positions and 6 closed out — a net gain of 5 holders — while 10 added to existing stakes and 17 trimmed.
The largest buyer was Nantahala Capital Management, opening a new position worth an estimated $1.61M. The largest seller was Stonepine Capital Management, cutting an estimated $1.32M.
- 43 institutional investors held Kezar Life Sciences (KZR) as of Q4 2025, up from 39 in Q3 2025.
- Funds reported $28.1M of Kezar Life Sciences stock for Q4 2025, up 70% quarter-over-quarter.
- 11 funds opened new Kezar Life Sciences positions in Q4 2025 and 6 closed out, a net change of +5 holders.
- The largest Kezar Life Sciences buyer in Q4 2025 was Nantahala Capital Management, an estimated $1.61M added.
- The largest Kezar Life Sciences seller in Q4 2025 was Stonepine Capital Management, an estimated $1.32M sold.
Based on aggregated 13F filings for Q4 2025.