Zenas BioPharma (NASDAQ:ZBIO) Hits New 12-Month High – Here’s Why

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) hit a new 52-week high on Monday . The company traded as high as $41.50 and last traded at $40.18, with a volume of 90080 shares changing hands. The stock had previously closed at $39.38.

Analysts Set New Price Targets

Several brokerages recently commented on ZBIO. Wedbush reiterated an “outperform” rating and set a $45.00 target price (up from $40.00) on shares of Zenas BioPharma in a report on Monday, October 27th. Morgan Stanley lifted their price objective on shares of Zenas BioPharma from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Zenas BioPharma in a research note on Thursday, October 30th. Citigroup raised their price target on shares of Zenas BioPharma from $27.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, HC Wainwright boosted their price objective on shares of Zenas BioPharma from $30.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.29.

Zenas BioPharma Stock Up 2.4%

The firm has a market cap of $2.10 billion, a P/E ratio of -5.53 and a beta of -1.61. The firm’s 50-day moving average price is $31.66 and its 200 day moving average price is $20.54. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.66 and a quick ratio of 5.66.

Zenas BioPharma (NASDAQ:ZBIO) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.35).

Insider Transactions at Zenas BioPharma

In other Zenas BioPharma news, Director Fairmount Funds Management Llc purchased 316,219 shares of Zenas BioPharma stock in a transaction on Tuesday, October 7th. The stock was bought at an average price of $19.00 per share, for a total transaction of $6,008,161.00. Following the transaction, the director owned 2,209,025 shares of the company’s stock, valued at $41,971,475. The trade was a 16.71% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Hongbo Lu purchased 263,160 shares of the company’s stock in a transaction on Tuesday, October 7th. The stock was acquired at an average price of $19.00 per share, for a total transaction of $5,000,040.00. Following the completion of the transaction, the director owned 321,983 shares of the company’s stock, valued at $6,117,677. This represents a 447.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 923,035 shares of company stock worth $17,628,163 in the last quarter. 16.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Zenas BioPharma

A number of hedge funds have recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Zenas BioPharma in the 1st quarter valued at about $250,000. PNC Financial Services Group Inc. grew its position in Zenas BioPharma by 41.2% during the second quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company’s stock valued at $89,000 after purchasing an additional 2,679 shares in the last quarter. Alliancebernstein L.P. increased its stake in Zenas BioPharma by 12.2% in the 3rd quarter. Alliancebernstein L.P. now owns 18,350 shares of the company’s stock valued at $407,000 after buying an additional 1,990 shares during the period. Creative Planning purchased a new stake in Zenas BioPharma in the 3rd quarter worth approximately $264,000. Finally, BNP Paribas Financial Markets boosted its stake 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 valued at $70,000 after buying an additional 1,716 shares during the period.

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.