Zenas BioPharma (NASDAQ:ZBIO) Price Target Raised to $37.00 at Morgan Stanley

Zenas BioPharma (NASDAQ:ZBIO) had its price objective raised by Morgan Stanley from $34.00 to $37.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

ZBIO has been the subject of a number of other research reports. 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. Wall Street Zen upgraded Zenas BioPharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Citigroup lifted their price target on Zenas BioPharma from $27.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a report on Thursday, October 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $52.00 price objective on shares of Zenas BioPharma in a research note on Monday, October 27th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.83.

Zenas BioPharma Stock Performance

NASDAQ ZBIO traded down $0.66 during trading hours on Thursday, reaching $35.00. The stock had a trading volume of 284,500 shares, compared to its average volume of 243,761. Zenas BioPharma has a 52-week low of $5.83 and a 52-week high of $36.63. The stock has a fifty day moving average of $25.03 and a 200 day moving average of $16.88. The stock has a market cap of $1.47 billion, a P/E ratio of -6.01 and a beta of -1.51.

Zenas BioPharma (NASDAQ:ZBIO) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.35).

Insider Activity at Zenas BioPharma

In other Zenas BioPharma news, Director Jason Raleigh Nunn purchased 63,158 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were purchased at an average cost of $19.00 per share, for a total transaction of $1,200,002.00. Following the completion of the transaction, the director owned 1,173,395 shares of the company’s stock, valued at $22,294,505. The trade was a 5.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Sr One Capital Management, Llc acquired 126,315 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The shares were acquired at an average cost of $19.00 per share, with a total value of $2,399,985.00. Following the purchase, the insider owned 1,917,895 shares in the company, valued at $36,440,005. This represents a 7.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 923,035 shares of company stock worth $17,628,163 over the last 90 days. Corporate insiders own 16.50% of the company’s stock.

Institutional Trading of Zenas BioPharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. grew its position in Zenas BioPharma by 60.8% in the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock worth $18,041,000 after acquiring an additional 703,838 shares during the period. Vanguard Group Inc. lifted its stake in shares of Zenas BioPharma by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock valued at $25,813,000 after purchasing an additional 170,546 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Zenas BioPharma in the 3rd quarter valued at $3,237,000. Jefferies Financial Group Inc. purchased a new position in shares of Zenas BioPharma during the 1st quarter worth $348,000. Finally, Nuveen LLC purchased a new position in shares of Zenas BioPharma during the 1st quarter worth $250,000.

About Zenas BioPharma

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.