Zenas BioPharma (NASDAQ:ZBIO) Posts Quarterly Earnings Results, Misses Expectations By $0.65 EPS

Zenas BioPharma (NASDAQ:ZBIO) posted its quarterly earnings data on Thursday. The company reported ($1.77) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.65), FiscalAI reports. The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $15.00 million.

Zenas BioPharma Price Performance

Shares of ZBIO stock traded down $2.22 during trading hours on Thursday, hitting $29.07. The company had a trading volume of 650,223 shares, compared to its average volume of 837,618. Zenas BioPharma has a 12 month low of $13.50 and a 12 month high of $44.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 11.94 and a current ratio of 11.94. The firm’s fifty day moving average is $26.49 and its 200 day moving average is $23.27. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -3.43 and a beta of -1.03.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ZBIO shares. HC Wainwright reiterated a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Morgan Stanley boosted their price objective on shares of Zenas BioPharma from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. Wall Street Zen upgraded Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings downgraded Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 9th. Finally, Zacks Research upgraded Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Six 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.29.

Insider Buying and Selling

In related news, CEO Leon O. Moulder, Jr. purchased 60,000 shares of the stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $16.88 per share, for a total transaction of $1,012,800.00. Following the completion of the transaction, the chief executive officer directly owned 96,928 shares of the company’s stock, valued at approximately $1,636,144.64. The trade was a 162.48% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zenas BioPharma

A number of hedge funds have recently made changes to their positions in ZBIO. Quarry LP grew its stake in Zenas BioPharma by 34.5% during the third quarter. Quarry LP now owns 1,134 shares of the company’s stock worth $25,000 after buying an additional 291 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Zenas BioPharma during the 3rd quarter worth approximately $30,000. BNP Paribas Financial Markets increased its holdings 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 purchasing an additional 1,716 shares in the last quarter. Sei Investments Co. bought a new position in Zenas BioPharma in the 2nd quarter valued at $118,000. Finally, Bank of America Corp DE raised its position in Zenas BioPharma by 32.3% in the 2nd quarter. Bank of America Corp DE now owns 13,991 shares of the company’s stock valued at $136,000 after purchasing an additional 3,412 shares during the last quarter.

Zenas BioPharma Company Profile

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.