Zenas BioPharma (NASDAQ:ZBIO) Reaches New 12-Month High – Time to Buy?

by · The Cerbat Gem

Zenas BioPharma, Inc. (NASDAQ:ZBIO – Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $34.33 and last traded at $31.80, with a volume of 3135985 shares changing hands. The stock had previously closed at $23.90.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ZBIO shares. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Zenas BioPharma in a research report on Thursday, October 9th. Wall Street Zen cut shares of Zenas BioPharma from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Jefferies Financial Group reissued a “buy” rating and set a $52.00 price target on shares of Zenas BioPharma in a research report on Monday. Morgan Stanley reissued an “overweight” rating and set a $34.00 price target on shares of Zenas BioPharma in a research report on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Zenas BioPharma in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Zenas BioPharma has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

View Our Latest Report on ZBIO

Zenas BioPharma Stock Performance

The company’s 50-day moving average price is $21.03 and its 200 day moving average price is $14.84. The stock has a market capitalization of $1.34 billion and a PE ratio of -5.46.

Zenas BioPharma (NASDAQ:ZBIO – Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($1.25) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.23).

Insider Buying and Selling

In other Zenas BioPharma news, Director Patrick G. Enright purchased 105,265 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was bought at an average cost of $19.00 per share, for a total transaction of $2,000,035.00. Following the purchase, the director directly owned 1,832,669 shares in the company, valued at $34,820,711. The trade was a 6.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hongbo Lu purchased 263,160 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The stock was acquired at an average price of $19.00 per share, with a total value of $5,000,040.00. Following the completion of the purchase, the director owned 321,983 shares in the company, valued at $6,117,677. This represents a 447.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 923,035 shares of company stock worth $17,628,163 over the last 90 days. Corporate insiders own 16.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZBIO. Federated Hermes Inc. increased its stake in shares of Zenas BioPharma by 60.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock worth $18,041,000 after acquiring an additional 703,838 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Zenas BioPharma in the 1st quarter worth about $348,000. Nuveen LLC bought a new position in shares of Zenas BioPharma in the 1st quarter worth about $250,000. Geode Capital Management LLC increased its stake in shares of Zenas BioPharma by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock worth $3,621,000 after acquiring an additional 16,461 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Zenas BioPharma in the 2nd quarter worth about $118,000.

About Zenas BioPharma

(Get Free Report)

Zenas BioPharma, Inc is a clinical-stage global biopharmaceutical company, which engages in the development and commercialization of transformative immunology-based therapies for patients. The company was founded by Lonnie O. Moulder Jr on November 12, 2019 and is headquartered in Waltham, MA.

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