Zenas BioPharma (NASDAQ:ZBIO) Stock Price Down 6.6% – Should You Sell?

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) dropped 6.6% during mid-day trading on Wednesday . The company traded as low as $19.40 and last traded at $19.50. Approximately 430,563 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,722,309 shares. The stock had previously closed at $20.88.

Analyst Upgrades and Downgrades

ZBIO has been the topic of a number of research analyst reports. Morgan Stanley downgraded Zenas BioPharma from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $37.00 to $19.00 in a report on Monday, January 5th. Evercore ISI started coverage on Zenas BioPharma in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $55.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price objective on shares of Zenas BioPharma in a report on Tuesday, January 6th. HC Wainwright restated a “buy” rating on shares of Zenas BioPharma in a report on Tuesday, December 16th. Finally, Citigroup increased their price target on shares of Zenas BioPharma from $27.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.14.

Zenas BioPharma Price Performance

The stock has a market capitalization of $1.08 billion, a P/E ratio of -2.84 and a beta of -1.45. The firm has a fifty day moving average price of $32.41 and a two-hundred day moving average price of $24.75. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.37.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.35).

Insider Buying and Selling at Zenas BioPharma

In other news, CEO Leon O. Moulder, Jr. acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was bought at an average cost of $16.55 per share, for a total transaction of $331,000.00. Following the acquisition, the chief executive officer directly owned 366,155 shares in the company, valued at approximately $6,059,865.25. The trade was a 5.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 100,000 shares of company stock worth $1,639,000 over the last ninety days. 16.50% of the stock is owned by company insiders.

Institutional Trading of Zenas BioPharma

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP lifted its holdings in shares of Zenas BioPharma by 34.5% during the third quarter. Quarry LP now owns 1,134 shares of the company’s stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Zenas BioPharma in the 3rd quarter worth about $30,000. BNP Paribas Financial Markets lifted its stake in Zenas BioPharma by 120.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,146 shares of the company’s stock valued at $70,000 after acquiring an additional 1,716 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Zenas BioPharma by 41.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company’s stock valued at $89,000 after acquiring an additional 2,679 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Zenas BioPharma during the 2nd quarter valued at about $118,000.

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.