Zenas BioPharma (NASDAQ:ZBIO) Shares Gap Up – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares gapped up before the market opened on Tuesday . The stock had previously closed at $19.78, but opened at $20.54. Zenas BioPharma shares last traded at $20.9480, with a volume of 16,354 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Guggenheim boosted their target price on shares of Zenas BioPharma from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Wall Street Zen raised shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Zenas BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zenas BioPharma in a research report on Friday, March 27th. Finally, Citigroup restated a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.29.

Zenas BioPharma Stock Up 1.5%

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -2.49 and a beta of -0.71. The company has a debt-to-equity ratio of 1.04, a quick ratio of 11.94 and a current ratio of 11.94. The business’s 50 day moving average is $19.16 and its 200-day moving average is $23.76.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Wednesday, May 13th. The company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.01. During the same quarter last year, the business posted ($0.80) EPS. Equities analysts anticipate that Zenas BioPharma, Inc. will post -4.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Zenas BioPharma news, Director Fairmount Funds Management Llc acquired 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was acquired at an average price of $20.00 per share, with a total value of $3,000,000.00. Following the transaction, the director owned 2,359,025 shares of the company’s stock, valued at approximately $47,180,500. This trade represents a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Leon O. Moulder, Jr. bought 60,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $16.88 per share, with a total value of $1,012,800.00. Following the purchase, the chief executive officer owned 96,928 shares in the company, valued at $1,636,144.64. This trade represents a 162.48% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 273,768 shares of company stock valued at $5,150,198. Insiders own 22.00% of the company’s stock.

Institutional Investors Weigh In On Zenas BioPharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Polar Capital Holdings Plc acquired a new position in Zenas BioPharma during the 4th quarter valued at $38,402,000. Federated Hermes Inc. grew its position in Zenas BioPharma by 45.9% in the 4th quarter. Federated Hermes Inc. now owns 2,715,578 shares of the company’s stock worth $98,603,000 after purchasing an additional 853,740 shares during the last quarter. EcoR1 Capital LLC acquired a new stake in Zenas BioPharma in the 4th quarter worth $28,667,000. NEA Management Company LLC increased its holdings in shares of Zenas BioPharma by 28.9% during the 4th quarter. NEA Management Company LLC now owns 3,523,219 shares of the company’s stock worth $127,928,000 after purchasing an additional 789,500 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Zenas BioPharma by 723.5% during the 1st quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock worth $7,592,000 after purchasing an additional 341,187 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.