Zenas BioPharma (NASDAQ:ZBIO) Trading Up 7.2% – What’s Next?

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares were up 7.2% during mid-day trading on Friday . The stock traded as high as $29.91 and last traded at $30.2650. 248,670 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 854,336 shares. The stock had previously closed at $28.24.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Zenas BioPharma from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, May 14th. HC Wainwright restated a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Zacks Research upgraded shares of Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, 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. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.29.

Zenas BioPharma Stock Up 6.0%

The stock has a fifty day moving average price of $21.59 and a 200 day moving average price of $22.21. The company has a debt-to-equity ratio of 1.04, a current ratio of 11.94 and a quick ratio of 11.94. The stock has a market capitalization of $1.89 billion, a P/E ratio of -3.54 and a beta of -0.96.

Zenas BioPharma (NASDAQ:ZBIO) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.01. During the same period in the prior year, the business earned ($0.80) EPS. On average, research analysts forecast that Zenas BioPharma, Inc. will post -4.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Leon O. Moulder, Jr. bought 60,000 shares of Zenas BioPharma stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $16.88 per share, with a total value of $1,012,800.00. Following the acquisition, the chief executive officer directly owned 96,928 shares of the company’s stock, valued at $1,636,144.64. This represents a 162.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 120,000 shares of company stock worth $2,080,000. 22.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Zenas BioPharma

Large investors have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in 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 acquiring an additional 341,187 shares during the period. Exome Asset Management LLC bought a new position in shares of Zenas BioPharma in the first quarter worth $1,578,000. Quantinno Capital Management LP bought a new position in shares of Zenas BioPharma in the first quarter worth $413,000. Sei Investments Co. purchased a new stake in shares of Zenas BioPharma in the first quarter worth $242,000. Finally, Walleye Capital LLC purchased a new stake in shares of Zenas BioPharma in the first quarter worth $2,448,000.

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.