Zenas BioPharma (NASDAQ:ZBIO) Trading 7.7% Higher – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price was up 7.7% on Monday . The stock traded as high as $33.30 and last traded at $32.7450. 258,950 shares were traded during mid-day trading, a decline of 70% from the average session volume of 856,417 shares. The stock had previously closed at $30.39.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Zacks Research raised Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings cut Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. HC Wainwright restated a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Finally, Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.29.

Zenas BioPharma Stock Down 1.6%

The firm has a market cap of $2.04 billion, a PE ratio of -3.81 and a beta of -0.96. The company has a current ratio of 11.94, a quick ratio of 11.94 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average price of $23.58 and a 200-day moving average price of $22.35.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Wednesday, May 13th. The company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.01. During the same quarter in the previous year, the business earned ($0.80) EPS. Research analysts forecast that Zenas BioPharma, Inc. will post -4.47 EPS for the current fiscal year.

Insider Activity at Zenas BioPharma

In other news, CEO Leon O. Moulder, Jr. acquired 60,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $16.88 per share, with a total value of $1,012,800.00. Following the transaction, the chief executive officer owned 96,928 shares in the company, valued at approximately $1,636,144.64. This trade represents a 162.48% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.00% of the company’s stock.

Hedge Funds Weigh In On Zenas BioPharma

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP raised its stake in Zenas BioPharma by 34.5% in the third quarter. Quarry LP now owns 1,134 shares of the company’s stock valued at $25,000 after buying an additional 291 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Zenas BioPharma during the 3rd quarter worth about $30,000. GF Fund Management CO. LTD. acquired a new position in shares of Zenas BioPharma during the 4th quarter worth about $38,000. BNP Paribas Financial Markets boosted its position in shares of Zenas BioPharma by 120.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,146 shares of the company’s stock worth $70,000 after acquiring an additional 1,716 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Zenas BioPharma by 48.3% in the 4th quarter. CWM LLC now owns 2,178 shares of the company’s stock valued at $79,000 after acquiring an additional 709 shares during the last quarter.

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.