Candriam S.C.A. Buys New Position in Zenas BioPharma, Inc. $ZBIO

Candriam S.C.A. purchased a new position in shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 654,833 shares of the company’s stock, valued at approximately $17,725,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZBIO. Alps Advisors Inc. raised its position in Zenas BioPharma by 35.6% in the 3rd quarter. Alps Advisors Inc. now owns 86,369 shares of the company’s stock valued at $2,329,000 after purchasing an additional 22,694 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Zenas BioPharma in the third quarter worth $90,000. Sterling Capital Management LLC grew its holdings in shares of Zenas BioPharma by 1,090.0% during the third quarter. Sterling Capital Management LLC now owns 1,190 shares of the company’s stock worth $32,000 after purchasing an additional 1,090 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Zenas BioPharma during the second quarter worth $329,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Zenas BioPharma by 192.0% during the second quarter. Squarepoint Ops LLC now owns 125,185 shares of the company’s stock worth $3,177,000 after purchasing an additional 82,311 shares during the last quarter.

Zenas BioPharma Price Performance

Shares of ZBIO opened at $28.26 on Monday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -3.00 and a beta of -0.88. The company has a debt-to-equity ratio of 1.57, a quick ratio of 9.93 and a current ratio of 9.93. The business’s fifty day moving average price is $28.98 and its two-hundred day moving average price is $25.14. Zenas BioPharma, Inc. has a 52 week low of $13.50 and a 52 week high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Thursday, November 5th. The company reported ($1.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.41). The firm had revenue of $10.00 million during the quarter, compared to the consensus estimate of $10.00 million. On average, analysts predict that Zenas BioPharma, Inc. will post -5.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

ZBIO has been the subject of a number of research reports. Guggenheim restated a “buy” rating and issued a $55.00 target price on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Weiss Ratings downgraded shares of Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $44.00 price objective on shares of Zenas BioPharma in a report on Tuesday, October 13th. Wedbush restated an “outperform” rating and issued a $45.00 price objective on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Finally, Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, October 28th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for autoimmune diseases and other serious immune-mediated conditions. The company’s research is centered on treatments designed to modulate B-cell activity and restore balance to the immune system.

Zenas’ lead product candidate is obexelimab, an investigational bifunctional antibody designed to bind CD19 on B cells and Fc gamma receptor IIb. By engaging both targets, obexelimab is intended to inhibit pathogenic B-cell activity without broadly depleting B cells.