Jennison Associates LLC Buys Shares of 250,000 Zenas BioPharma, Inc. $ZBIO

Jennison Associates LLC bought a new stake in Zenas BioPharma, Inc. (NASDAQ:ZBIO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 250,000 shares of the company’s stock, valued at approximately $4,888,000. Jennison Associates LLC owned approximately 0.44% of Zenas BioPharma as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Zenas BioPharma by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock valued at $3,621,000 after purchasing an additional 16,461 shares during the last quarter. Rhumbline Advisers increased its stake in Zenas BioPharma by 71.3% during the 2nd quarter. Rhumbline Advisers now owns 19,721 shares of the company’s stock valued at $191,000 after purchasing an additional 8,207 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Zenas BioPharma in the second quarter worth $118,000. Bank of America Corp DE lifted its stake in shares of Zenas BioPharma by 32.3% during the second quarter. Bank of America Corp DE now owns 13,991 shares of the company’s stock worth $136,000 after buying an additional 3,412 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Zenas BioPharma by 17.2% during the third quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock worth $25,813,000 after buying an additional 170,546 shares during the period.

Insider Activity at Zenas BioPharma

In other Zenas BioPharma news, CEO Leon O. Moulder, Jr. purchased 60,000 shares of the stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $16.88 per share, for a total transaction of $1,012,800.00. Following the acquisition, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders acquired 120,000 shares of company stock valued at $2,080,000. Corporate insiders own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ZBIO shares. Wall Street Zen raised Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Citigroup reissued a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Zacks Research upgraded shares of Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Morgan Stanley increased their price objective on shares of Zenas BioPharma from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Finally, Weiss Ratings lowered shares of Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Zenas BioPharma has a consensus rating of “Moderate Buy” and an average price target of $44.29.

Zenas BioPharma Stock Up 5.4%

ZBIO stock opened at $32.36 on Wednesday. The firm has a market cap of $2.04 billion, a PE ratio of -3.82 and a beta of -0.96. 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 firm’s 50 day moving average price is $22.26 and its 200-day moving average price is $22.07. Zenas BioPharma, Inc. has a one year low of $13.50 and a one year high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO) last issued its quarterly earnings data 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 business earned ($0.80) earnings per share. On average, equities research analysts anticipate that Zenas BioPharma, Inc. will post -4.47 EPS for the current year.

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.