Zura Bio (NASDAQ:ZURA) Coverage Initiated at Piper Sandler

Equities research analysts at Piper Sandler started coverage on shares of Zura Bio (NASDAQ:ZURA) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $26.00 price target on the stock. Piper Sandler’s target price would suggest a potential upside of 462.77% from the company’s current price.

Separately, Oppenheimer restated an “outperform” rating and set a $16.00 price objective (down from $17.00) on shares of Zura Bio in a research report on Monday, April 1st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.00.

Zura Bio Stock Performance

Zura Bio stock opened at $4.62 on Friday. Zura Bio has a 12-month low of $2.00 and a 12-month high of $14.00. The company has a 50-day moving average price of $3.26 and a 200 day moving average price of $3.95.

Insiders Place Their Bets

In related news, Director Amit Munshi bought 159,744 shares of the stock in a transaction on Monday, April 22nd. The stock was bought at an average price of $3.13 per share, with a total value of $499,998.72. Following the completion of the purchase, the director now directly owns 777,384 shares in the company, valued at approximately $2,433,211.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 170,926 shares of company stock valued at $534,998 over the last 90 days. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lynx1 Capital Management LP purchased a new position in shares of Zura Bio in the third quarter valued at approximately $65,000. Forefront Analytics LLC purchased a new position in shares of Zura Bio in the third quarter valued at approximately $95,000. Bank of New York Mellon Corp purchased a new position in shares of Zura Bio in the third quarter valued at approximately $224,000. Raymond James & Associates boosted its stake in shares of Zura Bio by 14.0% in the third quarter. Raymond James & Associates now owns 77,356 shares of the company’s stock valued at $511,000 after purchasing an additional 9,481 shares during the period. Finally, Eisler Capital US LLC purchased a new position in shares of Zura Bio in the third quarter valued at approximately $660,000. Hedge funds and other institutional investors own 61.14% of the company’s stock.

About Zura Bio

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops Tibulizumab, an IgG-scFv bispecific dual-antagonist antibody engineered by the fusion of ixekizumab and tabalumab that neutralizes IL-17A and BAFF, which is in Phase 2 clinical trial development; ZB-168, a monoclonal antibody that binds and neutralizes the IL-7 receptor chain that impact on diseases driven by IL7 and thymic stromal lymphopoietin immune pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.