Zenas BioPharma (NASDAQ:ZBIO) Stock Price Up 8.9% – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares were up 8.9% during trading on Monday . The company traded as high as $39.46 and last traded at $39.38. Approximately 59,164 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 254,215 shares. The stock had previously closed at $36.15.

Analyst Ratings Changes

A number of research firms have recently issued reports on ZBIO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zenas BioPharma in a report on Monday. HC Wainwright restated a “buy” rating on shares of Zenas BioPharma in a research report on Tuesday, December 16th. Evercore ISI began 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. Wedbush restated an “outperform” rating and issued a $45.00 price objective on shares of Zenas BioPharma in a report on Monday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $52.00 target price on shares of Zenas BioPharma in a report on Monday, October 27th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Zenas BioPharma currently has an average rating of “Moderate Buy” and an average target price of $46.29.

Zenas BioPharma Trading Up 0.8%

The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.66 and a current ratio of 5.66. The firm has a 50-day moving average of $34.13 and a 200-day moving average of $22.39. The firm has a market capitalization of $2.32 billion, a P/E ratio of -6.11 and a beta of -1.61.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Zenas BioPharma

A number of large investors have recently made changes to their positions in ZBIO. Nuveen LLC bought a new position in shares of Zenas BioPharma during the first quarter valued at approximately $250,000. Federated Hermes Inc. boosted its holdings in Zenas BioPharma by 60.8% in the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock valued at $18,041,000 after acquiring an additional 703,838 shares in the last quarter. PNC Financial Services Group Inc. increased its position in 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 purchasing an additional 2,679 shares during the period. Bank of America Corp DE raised its holdings in Zenas BioPharma by 5.8% in the 3rd quarter. Bank of America Corp DE now owns 14,809 shares of the company’s stock worth $329,000 after purchasing an additional 818 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Zenas BioPharma by 12.2% in the 3rd quarter. Alliancebernstein L.P. now owns 18,350 shares of the company’s stock worth $407,000 after purchasing an additional 1,990 shares during the period.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel therapies in oncology and infectious diseases. The company’s proprietary platform integrates structure-guided design, computational modeling and high-throughput screening to address challenging protein-protein interactions. Zenas BioPharma is advancing multiple preclinical and clinical-stage candidates aimed at providing new treatment options where current modalities may be limited by efficacy or safety concerns.

Founded in 2021 and headquartered in Cambridge, Massachusetts, Zenas BioPharma was built to streamline the drug discovery process from target identification through to IND-enabling studies.