Zenas BioPharma (NASDAQ:ZBIO) Shares Down 6.2% – Here’s Why
by Scott Moore · The Cerbat GemZenas BioPharma, Inc. (NASDAQ:ZBIO – Get Free Report) shares traded down 6.2% on Thursday. The stock traded as low as $26.87 and last traded at $26.4250. 20,228 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 816,017 shares. The stock had previously closed at $28.18.
Analyst Ratings Changes
Several brokerages recently issued reports on ZBIO. Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a report on Tuesday. Citigroup raised their price objective on shares of Zenas BioPharma from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Guggenheim reiterated a “buy” rating and issued a $55.00 target price on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Wedbush restated an “outperform” rating and set a $45.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Finally, Wall Street Zen upgraded Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.
View Our Latest Research Report on Zenas BioPharma
Zenas BioPharma Stock Down 9.3%
The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -2.86 and a beta of -0.90. The company has a debt-to-equity ratio of 1.57, a quick ratio of 9.93 and a current ratio of 9.93. The firm’s 50-day simple moving average is $31.01 and its two-hundred day simple moving average is $25.25.
Zenas BioPharma (NASDAQ:ZBIO – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.65). The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $15.00 million. On average, sell-side analysts expect that Zenas BioPharma, Inc. will post -5.81 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new position in Zenas BioPharma in the 2nd quarter valued at $329,000. Squarepoint Ops LLC raised its position in shares of Zenas BioPharma by 192.0% during the second quarter. Squarepoint Ops LLC now owns 125,185 shares of the company’s stock worth $3,177,000 after acquiring an additional 82,311 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Zenas BioPharma by 143.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company’s stock valued at $959,000 after acquiring an additional 22,267 shares during the period. Wellington Management Group LLP lifted its stake in shares of Zenas BioPharma by 27.9% during the second quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock valued at $40,451,000 after acquiring an additional 347,766 shares during the period. Finally, Bank of America Corp DE bought a new position in Zenas BioPharma in the second quarter valued at about $31,247,000.
About Zenas BioPharma
Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for patients with serious autoimmune diseases. The company’s research is centered on medicines designed to modulate the immune system while potentially avoiding the broad immune-cell depletion associated with some existing treatments.
Zenas’ lead product candidate is obexelimab, an investigational monoclonal antibody designed to bind CD19 and FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.