Zenas BioPharma (NASDAQ:ZBIO) Stock Crosses Below Fifty Day Moving Average – Should You Sell?

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $28.68 and traded as low as $27.42. Zenas BioPharma shares last traded at $27.64, with a volume of 752,030 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ZBIO shares. HC Wainwright reaffirmed a “buy” rating and set a $44.00 price objective on shares of Zenas BioPharma in a report on Tuesday, October 13th. Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, November 4th. Wedbush reiterated an “outperform” rating and issued a $45.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Citigroup reissued a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, October 28th. Finally, Morgan Stanley initiated coverage on shares of Zenas BioPharma in a research note on Tuesday, October 20th. They issued an “equal weight” rating and a $32.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.71.

Zenas BioPharma Trading Down 3.7%

The company has a market cap of $1.87 billion, a price-to-earnings ratio of -2.93 and a beta of -0.88. The company’s fifty day moving average price is $28.68 and its two-hundred day moving average price is $25.31. The company has a quick ratio of 9.93, a current ratio of 9.42 and a debt-to-equity ratio of 1.88.

Zenas BioPharma (NASDAQ:ZBIO) last announced its earnings results on Thursday, November 5th. The company reported ($1.65) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.41). The firm had revenue of $10.00 million during the quarter, compared to analyst estimates of $10.00 million. Research analysts expect that Zenas BioPharma, Inc. will post -6.23 earnings per share for the current year.

Hedge Funds Weigh In On Zenas BioPharma

Several institutional investors have recently bought and sold shares of ZBIO. Russell Investments Group Ltd. raised its holdings in shares of Zenas BioPharma by 3.6% in the third quarter. Russell Investments Group Ltd. now owns 13,193 shares of the company’s stock valued at $356,000 after buying an additional 453 shares during the last quarter. Candriam S.C.A. acquired a new position in Zenas BioPharma during the 3rd quarter worth about $17,725,000. Alps Advisors Inc. grew its holdings in Zenas BioPharma by 35.6% during the 3rd quarter. Alps Advisors Inc. now owns 86,369 shares of the company’s stock worth $2,329,000 after acquiring an additional 22,694 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Zenas BioPharma during the 3rd quarter worth about $90,000. Finally, Sterling Capital Management LLC grew its holdings in Zenas BioPharma by 1,090.0% during the 3rd quarter. Sterling Capital Management LLC now owns 1,190 shares of the company’s stock worth $32,000 after acquiring an additional 1,090 shares during the last quarter.

About Zenas BioPharma

Zenas BioPharma is a clinical-stage biopharmaceutical company focused on developing treatments for autoimmune diseases. Founded in 2019 and based in Waltham, Massachusetts, the company describes itself as a global biopharmaceutical business. Its lead investigational medicine, obexelimab, is a bifunctional antibody designed to bind CD19 and Fc?RIIb and inhibit B-cell activity. Zenas is developing the drug for autoimmune conditions, including IgG4-related disease; it has not been approved for commercial use.