Wall Street Zen Downgrades Zenas BioPharma (NASDAQ:ZBIO) to Sell

Wall Street Zen cut shares of Zenas BioPharma (NASDAQ:ZBIO) from a hold rating to a sell rating in a research note released on Friday.

Zenas BioPharma Stock Up 7.9%

Shares of NASDAQ ZBIO opened at $20.09 on Friday. The company has a market cap of $845.99 million and a P/E ratio of -5.66. Zenas BioPharma has a 52 week low of $5.83 and a 52 week high of $26.25. The business has a 50-day simple moving average of $17.34 and a two-hundred day simple moving average of $12.46.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.23).

Institutional Investors Weigh In On Zenas BioPharma

A number of institutional investors and hedge funds have recently made changes to their positions in ZBIO. New York State Common Retirement Fund purchased a new position in Zenas BioPharma during the first quarter worth about $49,000. PNC Financial Services Group Inc. raised its position in shares of Zenas BioPharma by 41.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company’s stock valued at $89,000 after buying an additional 2,679 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Zenas BioPharma during the 2nd quarter valued at $118,000. Intech Investment Management LLC lifted its holdings in shares of Zenas BioPharma by 13.9% during the 2nd quarter. Intech Investment Management LLC now owns 13,206 shares of the company’s stock worth $128,000 after acquiring an additional 1,607 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Zenas BioPharma by 32.3% in the second quarter. Bank of America Corp DE now owns 13,991 shares of the company’s stock worth $136,000 after acquiring an additional 3,412 shares in the last quarter.

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.