Zenas BioPharma (NASDAQ:ZBIO) Trading Up 9.3% – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares were up 9.3% during mid-day trading on Wednesday . The stock traded as high as $27.48 and last traded at $27.7450. 921,229 shares changed hands during trading, an increase of 9% from the average daily volume of 845,281 shares. The stock had previously closed at $25.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup reiterated a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Zacks Research upgraded shares of Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Zenas BioPharma in a research report on Wednesday, June 24th. HC Wainwright reiterated a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Finally, Morgan Stanley upped their target price on shares of Zenas BioPharma from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.29.

Zenas BioPharma Stock Performance

The firm has a fifty day simple moving average of $19.48 and a 200-day simple moving average of $23.15. 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 stock has a market cap of $1.82 billion, a price-to-earnings ratio of -3.40 and a beta of -0.71.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Wednesday, May 13th. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.47) by $0.01. During the same period last year, the firm earned ($0.80) earnings per share. Analysts forecast that Zenas BioPharma, Inc. will post -4.47 EPS for the current fiscal year.

Insider Buying and Selling

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 stock was purchased at an average cost of $16.88 per share, with a total value of $1,012,800.00. Following the acquisition, the chief executive officer owned 96,928 shares of the company’s stock, valued at $1,636,144.64. This trade represents a 162.48% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought 120,000 shares of company stock valued at $2,080,000 in the last three months. 22.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zenas BioPharma

Several institutional investors have recently modified their holdings of the business. Quarry LP lifted its holdings 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 during the period. Deutsche Bank AG boosted its stake in shares of Zenas BioPharma by 4.5% in the fourth quarter. Deutsche Bank AG now owns 12,781 shares of the company’s stock valued at $464,000 after buying an additional 554 shares during the period. CWM LLC grew its position in Zenas BioPharma by 48.3% during the fourth quarter. CWM LLC now owns 2,178 shares of the company’s stock worth $79,000 after buying an additional 709 shares in the last quarter. Two Sigma Investments LP raised its holdings in Zenas BioPharma by 3.9% in the 3rd quarter. Two Sigma Investments LP now owns 20,382 shares of the company’s stock valued at $452,000 after acquiring an additional 765 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Zenas BioPharma by 5.8% during the 3rd quarter. Bank of America Corp DE now owns 14,809 shares of the company’s stock valued at $329,000 after acquiring an additional 818 shares during the period.

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.