Zenas BioPharma (NASDAQ:ZBIO) Stock Price Down 6.6% Following Weak Earnings

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price was down 6.6% during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $28.01 and last traded at $29.2150. 129,747 shares traded hands during trading, a decline of 84% from the average session volume of 834,254 shares. The stock had previously closed at $31.29.

The company reported ($1.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.65). The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $15.00 million.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZBIO shares. Citigroup restated a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Weiss Ratings downgraded Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. HC Wainwright reissued a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Zacks Research raised Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. 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 analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Zenas BioPharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.29.

Insider Activity at Zenas BioPharma

In other news, CEO Leon O. Moulder, Jr. acquired 60,000 shares of the stock in a transaction dated Monday, May 18th. The stock was purchased at an average cost of $16.88 per share, with a total value of $1,012,800.00. Following the completion of the purchase, the chief executive officer owned 96,928 shares in the company, valued at approximately $1,636,144.64. The trade was a 162.48% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZBIO. SR One Capital Management LP raised its position in Zenas BioPharma by 2.6% during the 4th quarter. SR One Capital Management LP now owns 5,037,854 shares of the company’s stock valued at $182,924,000 after purchasing an additional 126,315 shares during the last quarter. NEA Management Company LLC grew its position in shares of Zenas BioPharma by 28.9% in the 4th quarter. NEA Management Company LLC now owns 3,523,219 shares of the company’s stock worth $127,928,000 after buying an additional 789,500 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Zenas BioPharma by 45.9% during the fourth quarter. Federated Hermes Inc. now owns 2,715,578 shares of the company’s stock valued at $98,603,000 after buying an additional 853,740 shares during the period. BlackRock Inc. purchased a new position in shares of Zenas BioPharma during the second quarter valued at approximately $68,176,000. Finally, Vanguard Group Inc. raised its holdings in shares of Zenas BioPharma by 25.0% during the fourth quarter. Vanguard Group Inc. now owns 1,453,065 shares of the company’s stock valued at $52,761,000 after acquiring an additional 290,307 shares in the last quarter.

Zenas BioPharma Stock Performance

The company has a quick ratio of 11.94, a current ratio of 11.94 and a debt-to-equity ratio of 1.04. The company has a market cap of $1.83 billion, a P/E ratio of -3.43 and a beta of -1.03. The business has a fifty day moving average of $26.49 and a 200 day moving average of $23.27.

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.