Zenas BioPharma (NASDAQ:ZBIO) Shares Up 6.7% – What’s Next?

Zenas BioPharma, Inc. (NASDAQ:ZBIO) traded up 6.7% on Tuesday . The stock traded as high as $35.02 and last traded at $34.78. 80,676 shares changed hands during trading, a decline of 68% from the average session volume of 248,722 shares. The stock had previously closed at $32.59.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ZBIO shares. HC Wainwright reissued a “buy” rating on shares of Zenas BioPharma in a research note on Tuesday. Jefferies Financial Group reissued a “buy” rating and issued a $52.00 price objective on shares of Zenas BioPharma in a report on Monday, October 27th. Morgan Stanley lifted their price target on Zenas BioPharma from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Wall Street Zen upgraded shares of Zenas BioPharma from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Evercore ISI started coverage on shares of Zenas BioPharma in a research report on Wednesday, November 26th. They set an “outperform” rating and a $55.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.29.

Zenas BioPharma Stock Up 10.5%

The company has a debt-to-equity ratio of 0.37, a current ratio of 5.66 and a quick ratio of 5.66. The company has a market capitalization of $1.93 billion, a P/E ratio of -5.09 and a beta of -1.62. The company has a 50 day moving average of $32.62 and a 200-day moving average of $21.20.

Zenas BioPharma (NASDAQ:ZBIO) last released its quarterly earnings results 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

In related news, Director Hongbo Lu purchased 263,160 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were purchased at an average price of $19.00 per share, with a total value of $5,000,040.00. Following the purchase, the director owned 321,983 shares of the company’s stock, valued at $6,117,677. The trade was a 447.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick G. Enright bought 105,265 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were acquired at an average cost of $19.00 per share, with a total value of $2,000,035.00. Following the purchase, the director owned 1,832,669 shares of the company’s stock, valued at $34,820,711. The trade was a 6.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 923,035 shares of company stock valued at $17,628,163 over the last quarter. Insiders own 16.50% of the company’s stock.

Institutional Trading of Zenas BioPharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZBIO. Quarry LP lifted its stake in shares of Zenas BioPharma by 34.5% during the 3rd quarter. Quarry LP now owns 1,134 shares of the company’s stock worth $25,000 after purchasing an additional 291 shares during the period. Two Sigma Investments LP boosted its position in shares of Zenas BioPharma by 3.9% in the third quarter. Two Sigma Investments LP now owns 20,382 shares of the company’s stock worth $452,000 after acquiring an additional 765 shares during the last quarter. Bank of America Corp DE grew its holdings in Zenas BioPharma by 5.8% in the third quarter. Bank of America Corp DE now owns 14,809 shares of the company’s stock valued at $329,000 after purchasing an additional 818 shares during the period. Russell Investments Group Ltd. purchased a new stake in Zenas BioPharma in the third quarter valued at approximately $30,000. Finally, Rhumbline Advisers increased its position in Zenas BioPharma by 7.6% during the third quarter. Rhumbline Advisers now owns 21,214 shares of the company’s stock worth $471,000 after purchasing an additional 1,493 shares during 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.