Zenas BioPharma (NASDAQ:ZBIO) Trading Down 6.6% – Should You Sell?

Zenas BioPharma, Inc. (NASDAQ:ZBIO) was down 6.6% on Wednesday . The company traded as low as $19.40 and last traded at $19.50. Approximately 430,563 shares traded hands during trading, a decline of 75% from the average daily volume of 1,722,309 shares. The stock had previously closed at $20.88.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ZBIO. Morgan Stanley lowered Zenas BioPharma from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $37.00 to $19.00 in a research note on Monday, January 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Zenas BioPharma in a research report on Tuesday, January 6th. Wedbush reiterated an “outperform” rating and set a $45.00 price objective on shares of Zenas BioPharma in a research note on Monday, December 22nd. Evercore ISI began coverage on shares of Zenas BioPharma in a research report on Wednesday, November 26th. They set an “outperform” rating and a $55.00 target price for the company. Finally, Citigroup lifted their price target on shares of Zenas BioPharma from $27.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zenas BioPharma presently has an average rating of “Moderate Buy” and a consensus price target of $43.14.

Zenas BioPharma Stock Down 6.2%

The company’s 50-day moving average is $33.33 and its 200 day moving average is $24.74. The stock has a market capitalization of $1.05 billion, a PE ratio of -2.77 and a beta of -1.45. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.37.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Wednesday, November 12th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.35).

Insider Buying and Selling at Zenas BioPharma

In other news, CEO Leon O. Moulder, Jr. bought 50,000 shares of Zenas BioPharma stock in a transaction on Wednesday, January 7th. The stock was acquired at an average price of $16.38 per share, with a total value of $819,000.00. Following the completion of the acquisition, the chief executive officer directly owned 316,155 shares of the company’s stock, valued at $5,178,618.90. The trade was a 18.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have bought 100,000 shares of company stock worth $1,639,000. 16.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zenas BioPharma

Institutional investors have recently made changes to their positions in the stock. Quarry LP increased its stake in Zenas BioPharma by 34.5% during the third quarter. Quarry LP now owns 1,134 shares of the company’s stock worth $25,000 after purchasing an additional 291 shares during the period. Millennium Management LLC acquired a new position in Zenas BioPharma in the 3rd quarter valued at about $1,595,000. Bank of America Corp DE increased its stake in shares of Zenas BioPharma by 5.8% during the third quarter. Bank of America Corp DE now owns 14,809 shares of the company’s stock worth $329,000 after acquiring an additional 818 shares during the period. Alliancebernstein L.P. raised its position in Zenas BioPharma by 12.2% in the third quarter. Alliancebernstein L.P. now owns 18,350 shares of the company’s stock worth $407,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Creative Planning purchased a new position in Zenas BioPharma in the third quarter valued at about $264,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel therapies in oncology and infectious diseases. The company’s proprietary platform integrates structure-guided design, computational modeling and high-throughput screening to address challenging protein-protein interactions. Zenas BioPharma is advancing multiple preclinical and clinical-stage candidates aimed at providing new treatment options where current modalities may be limited by efficacy or safety concerns.

Founded in 2021 and headquartered in Cambridge, Massachusetts, Zenas BioPharma was built to streamline the drug discovery process from target identification through to IND-enabling studies.