Zenas BioPharma (NASDAQ:ZBIO) Stock Price Up 7.9% – What’s Next?

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price shot up 7.9% during mid-day trading on Thursday . The company traded as high as $23.66 and last traded at $23.5250. 259,533 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 807,108 shares. The stock had previously closed at $21.80.

Analysts Set New Price Targets

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

Zenas BioPharma Price Performance

The business’s 50 day moving average price is $19.17 and its two-hundred day moving average price is $23.53. The stock has a market cap of $1.53 billion, a P/E ratio of -2.84 and a beta of -0.71. The company has a current ratio of 11.94, a quick ratio of 11.94 and a debt-to-equity ratio of 1.04.

Zenas BioPharma (NASDAQ:ZBIO) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.47) by $0.01. During the same period in the previous year, the firm earned ($0.80) earnings per share. As a group, sell-side analysts expect that Zenas BioPharma, Inc. will post -4.47 earnings per share for the current fiscal year.

Insider Activity at Zenas BioPharma

In other Zenas BioPharma news, Director Hongbo Lu bought 3,768 shares of Zenas BioPharma stock in a transaction on Tuesday, March 31st. The stock was acquired at an average price of $18.63 per share, with a total value of $70,197.84. Following the acquisition, the director owned 426,736 shares in the company, valued at approximately $7,950,091.68. This trade represents a 0.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fairmount Funds Management Llc acquired 150,000 shares of Zenas BioPharma 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 completion of the acquisition, the director directly owned 2,359,025 shares in the company, valued at $47,180,500. This represents a 6.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 273,768 shares of company stock valued at $5,150,198 over the last 90 days. Corporate insiders own 22.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. bought a new position in Zenas BioPharma in the 4th quarter worth $38,000. Quarry LP grew its holdings in Zenas BioPharma by 34.5% during the third quarter. Quarry LP now owns 1,134 shares of the company’s stock valued at $25,000 after purchasing an additional 291 shares during the period. Russell Investments Group Ltd. bought a new stake in Zenas BioPharma during the third quarter valued at about $30,000. CWM LLC increased its position in Zenas BioPharma by 48.3% in the fourth quarter. CWM LLC now owns 2,178 shares of the company’s stock worth $79,000 after buying an additional 709 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Zenas BioPharma in the fourth quarter worth about $95,000.

About Zenas BioPharma

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.