Zenas BioPharma (NASDAQ:ZBIO) Posts Earnings Results, Misses Estimates By $0.37 EPS

Zenas BioPharma (NASDAQ:ZBIO) released its quarterly earnings results on Tuesday. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.37), FiscalAI reports.

Zenas BioPharma Stock Performance

Shares of ZBIO stock traded up $0.25 during mid-day trading on Wednesday, hitting $35.45. The company’s stock had a trading volume of 79,353 shares, compared to its average volume of 241,854. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -6.09 and a beta of -1.51. Zenas BioPharma has a 52-week low of $5.83 and a 52-week high of $36.63. The business has a 50-day moving average price of $24.28 and a 200 day moving average price of $16.61.

Insider Buying and Selling

In related news, Director Hongbo Lu acquired 263,160 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was purchased at an average cost of $19.00 per share, with a total value of $5,000,040.00. Following the completion of the acquisition, the director directly owned 321,983 shares of the company’s stock, valued at approximately $6,117,677. This trade represents a 447.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Sr One Capital Management, Llc bought 126,315 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was bought at an average price of $19.00 per share, for a total transaction of $2,399,985.00. Following the acquisition, the insider directly owned 1,917,895 shares of the company’s stock, valued at $36,440,005. The trade was a 7.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 923,035 shares of company stock worth $17,628,163 in the last three months. 16.50% of the stock is currently owned by company insiders.

Institutional Trading of Zenas BioPharma

A number of hedge funds have recently bought and sold shares of ZBIO. Vanguard Group Inc. grew its position in Zenas BioPharma by 17.2% during the third quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock valued at $25,813,000 after buying an additional 170,546 shares during the period. Bank of America Corp DE grew its position in shares of Zenas BioPharma by 32.3% during the 2nd quarter. Bank of America Corp DE now owns 13,991 shares of the company’s stock valued at $136,000 after acquiring an additional 3,412 shares during the period. Sei Investments Co. purchased a new stake in shares of Zenas BioPharma in the 2nd quarter worth $118,000. Rhumbline Advisers increased its stake in shares of Zenas BioPharma by 71.3% in the 2nd quarter. Rhumbline Advisers now owns 19,721 shares of the company’s stock worth $191,000 after purchasing an additional 8,207 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in 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 purchasing an additional 16,461 shares during the period.

Analysts Set New Price Targets

Several brokerages have commented on ZBIO. Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a research report on Thursday, October 30th. Wedbush restated an “outperform” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Zenas BioPharma in a report on Monday, October 27th. Jefferies Financial Group reiterated a “buy” rating and set a $52.00 target price on shares of Zenas BioPharma in a report on Monday, October 27th. Morgan Stanley boosted their price target on Zenas BioPharma from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, HC Wainwright upped their price target on Zenas BioPharma from $30.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.33.

About Zenas BioPharma

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.