Zenas BioPharma (NASDAQ:ZBIO) Shares Climb 6.9% – Still a Buy?

by · The Cerbat Gem

Zenas BioPharma, Inc. (NASDAQ:ZBIO – Get Free Report)’s share price rose 6.9% on Monday. The stock traded as high as $26.67 and last traded at $26.5490. Approximately 59,467 shares changed hands during trading, a decline of 93% from the average daily volume of 805,896 shares. The stock had previously closed at $24.84.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ZBIO shares. Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a report on Tuesday, October 6th. HC Wainwright reissued a “buy” rating and set a $44.00 price target on shares of Zenas BioPharma in a report on Tuesday, October 13th. Wall Street Zen upgraded shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Zenas BioPharma in a report on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.71.

Get Our Latest Stock Analysis on Zenas BioPharma

Zenas BioPharma Trading Up 5.5%

The business has a fifty day moving average of $29.97 and a 200-day moving average of $25.61. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -3.13 and a beta of -0.90. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93.

Zenas BioPharma (NASDAQ:ZBIO – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $15.00 million. On average, equities analysts anticipate that Zenas BioPharma, Inc. will post -5.81 earnings per share for the current fiscal year.

Institutional Trading of Zenas BioPharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Zenas BioPharma during the 2nd quarter valued at $68,176,000. Wellington Management Group LLP boosted its stake in shares of Zenas BioPharma by 27.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock worth $40,451,000 after acquiring an additional 347,766 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Zenas BioPharma during the 2nd quarter worth $31,247,000. Jennison Associates LLC bought a new stake in shares of Zenas BioPharma during the 1st quarter worth $4,888,000. Finally, iA Global Asset Management Inc. acquired a new position in shares of Zenas BioPharma in the 1st quarter worth $4,219,000.

Zenas BioPharma Company Profile

(Get Free Report)

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for autoimmune diseases and other serious immune-mediated conditions. The company’s research is centered on treatments designed to modulate B-cell activity and restore balance to the immune system.

Zenas’ lead product candidate is obexelimab, an investigational bifunctional antibody designed to bind CD19 on B cells and Fc gamma receptor IIb. By engaging both targets, obexelimab is intended to inhibit pathogenic B-cell activity without broadly depleting B cells.

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