Zenas BioPharma (NASDAQ:ZBIO) Stock Price Up 7.1% – Still a Buy?

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price traded up 7.1% during mid-day trading on Thursday. The stock traded as high as $28.63 and last traded at $28.8920. 235,954 shares traded hands during trading, a decline of 71% from the average session volume of 815,445 shares. The stock had previously closed at $26.97.

Analyst Ratings Changes

ZBIO has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Wedbush reiterated an “outperform” rating and issued a $45.00 target price on shares of Zenas BioPharma in a report on Wednesday. Wall Street Zen raised shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Morgan Stanley boosted their price target on shares of Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Zenas BioPharma in a research report on Wednesday. Six equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Zenas BioPharma Trading Up 1.3%

The stock has a market capitalization of $1.84 billion, a PE ratio of -3.15 and a beta of -0.89. The firm has a 50-day moving average price of $31.28 and a 200-day moving average price of $25.15. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 1.57.

Zenas BioPharma (NASDAQ:ZBIO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($1.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.65). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $15.00 million. As a group, equities analysts forecast that Zenas BioPharma, Inc. will post -5.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in Zenas BioPharma in the second quarter worth $49,000. Jupiter Topco LLC purchased a new position in shares of Zenas BioPharma during the 2nd quarter valued at $201,000. The Manufacturers Life Insurance Company bought a new position in shares of Zenas BioPharma during the 2nd quarter worth $204,000. Sei Investments Co. bought a new position in shares of Zenas BioPharma during the 1st quarter worth $242,000. Finally, Engineers Gate Manager LP purchased a new stake in Zenas BioPharma in the 2nd quarter worth about $329,000.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for patients with serious autoimmune diseases. The company’s research is centered on medicines designed to modulate the immune system while potentially avoiding the broad immune-cell depletion associated with some existing treatments.

Zenas’ lead product candidate is obexelimab, an investigational monoclonal antibody designed to bind CD19 and FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.