Zenas BioPharma (NASDAQ:ZBIO) Stock Price Down 3.5% – Here’s What Happened

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares dropped 3.5% during trading on Friday . The company traded as low as $38.53 and last traded at $39.10. Approximately 113,815 shares were traded during trading, a decline of 54% from the average daily volume of 247,313 shares. The stock had previously closed at $40.53.

Analyst Upgrades and Downgrades

ZBIO has been the subject of several research analyst reports. Citigroup upped their price objective 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. Evercore ISI initiated coverage on shares of Zenas BioPharma in a research note on Wednesday. They issued an “outperform” rating and a $55.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $45.00 price objective (up previously from $40.00) on shares of Zenas BioPharma in a research note on Monday, October 27th. Morgan Stanley boosted their target price on Zenas BioPharma from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Finally, Wall Street Zen upgraded Zenas BioPharma from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Zenas BioPharma currently has a consensus rating of “Moderate Buy” and an average target price of $46.29.

Zenas BioPharma Stock Performance

The company’s 50-day moving average price is $28.46 and its two-hundred day moving average price is $18.76. The company has a market cap of $2.08 billion, a P/E ratio of -5.49 and a beta of -1.51. 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) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.35).

Insiders Place Their Bets

In related news, Director Hongbo Lu bought 263,160 shares of the business’s stock in a transaction dated Tuesday, October 7th. The shares were bought at an average cost of $19.00 per share, with a total value of $5,000,040.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick G. Enright bought 105,265 shares of Zenas BioPharma stock in a transaction dated Thursday, October 9th. The shares were bought at an average cost of $19.00 per share, with a total value of $2,000,035.00. Following the completion of the acquisition, the director owned 1,832,669 shares of the company’s stock, valued at $34,820,711. The trade was a 6.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 923,035 shares of company stock worth $17,628,163. Corporate insiders own 16.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZBIO. Quarry LP raised its holdings in shares of Zenas BioPharma by 34.5% during the third quarter. Quarry LP now owns 1,134 shares of the company’s stock valued at $25,000 after acquiring an additional 291 shares during the period. Two Sigma Investments LP grew its position in Zenas BioPharma by 3.9% during the 3rd quarter. Two Sigma Investments LP now owns 20,382 shares of the company’s stock worth $452,000 after purchasing an additional 765 shares in the last quarter. Bank of America Corp DE grew its position in Zenas BioPharma by 5.8% during the 3rd quarter. Bank of America Corp DE now owns 14,809 shares of the company’s stock worth $329,000 after purchasing an additional 818 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Zenas BioPharma during the 3rd quarter valued at $30,000. Finally, Rhumbline Advisers boosted its position in shares of Zenas BioPharma by 7.6% in the third quarter. Rhumbline Advisers now owns 21,214 shares of the company’s stock worth $471,000 after buying an additional 1,493 shares during the period.

Zenas BioPharma Company Profile

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.