Zenas BioPharma (NASDAQ:ZBIO) Stock Falls 6.2% – What’s Next?

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s stock price dropped 6.2% during trading on Thursday. The company traded as low as $26.87 and last traded at $26.4250. Approximately 20,228 shares traded hands during trading, a decline of 98% from the average session volume of 816,017 shares. The stock had previously closed at $28.18.

Analysts Set New Price Targets

A number of analysts recently weighed in on ZBIO shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a research note on Tuesday. Citigroup lifted their price objective on Zenas BioPharma from $41.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Morgan Stanley upped their price objective on Zenas BioPharma from $22.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Wall Street Zen raised Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Finally, HC Wainwright restated a “buy” rating and set a $44.00 target price on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Zenas BioPharma Price Performance

The stock has a fifty day moving average of $30.81 and a 200-day moving average of $25.29. The firm has a market capitalization of $1.78 billion, a P/E ratio of -3.03 and a beta of -0.90. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 1.57.

Zenas BioPharma (NASDAQ:ZBIO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.77) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $15.00 million. Equities analysts predict that Zenas BioPharma, Inc. will post -5.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Zenas BioPharma

A number of institutional investors and hedge funds have recently made changes to their positions in ZBIO. Quantbot Technologies LP bought a new position in Zenas BioPharma in the second quarter valued at about $49,000. Jupiter Topco LLC acquired a new position in Zenas BioPharma during the 2nd quarter valued at about $201,000. The Manufacturers Life Insurance Company acquired a new position in Zenas BioPharma during the 2nd quarter valued at about $204,000. Sei Investments Co. bought a new position in shares of Zenas BioPharma in the 1st quarter valued at about $242,000. Finally, Engineers Gate Manager LP bought a new position in shares of Zenas BioPharma in the 2nd quarter valued at about $329,000.

Zenas BioPharma Company Profile

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.