Zenas BioPharma (NASDAQ:ZBIO) Stock Rated Equal Weight in New Coverage at Morgan Stanley

Morgan Stanley assumed coverage on shares of Zenas BioPharma (NASDAQ:ZBIO) in a research note published on Tuesday morning. The firm issued an equal weight rating and a $32.00 price target on the stock.

ZBIO has been the subject of a number of other research reports. Wall Street Zen upgraded Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. HC Wainwright reissued a “buy” rating and issued a $44.00 price target on shares of Zenas BioPharma in a research note on Tuesday, October 13th. Citigroup boosted their price objective on Zenas BioPharma from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Zenas BioPharma in a research note on Tuesday, October 6th. Finally, Guggenheim reaffirmed a “buy” rating and set a $55.00 price objective on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Zenas BioPharma has an average rating of “Moderate Buy” and an average target price of $46.71.

Zenas BioPharma Price Performance

ZBIO opened at $28.23 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93. The business has a fifty day simple moving average of $29.88 and a 200-day simple moving average of $25.70. Zenas BioPharma has a fifty-two week low of $13.50 and a fifty-two week high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO) last issued its earnings results on Thursday, August 13th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.65). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $15.00 million. On average, equities analysts predict that Zenas BioPharma will post -5.81 earnings per share for the current year.

Hedge Funds Weigh In On Zenas BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its stake in Zenas BioPharma by 1,090.0% during the 3rd quarter. Sterling Capital Management LLC now owns 1,190 shares of the company’s stock valued at $32,000 after purchasing an additional 1,090 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Zenas BioPharma in the second quarter valued at $49,000. Jupiter Topco LLC purchased a new stake in shares of Zenas BioPharma in the second quarter valued at $201,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Zenas BioPharma in the second quarter valued at $204,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Zenas BioPharma by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 60,864 shares of the company’s stock worth $1,190,000 after buying an additional 9,062 shares during the period.

About Zenas BioPharma

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.