Zenas BioPharma (NASDAQ:ZBIO) Releases Quarterly Earnings Results, Misses Expectations By $0.41 EPS

Zenas BioPharma (NASDAQ:ZBIO) announced its quarterly earnings data on Thursday. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.41), FiscalAI reports. The firm had revenue of $10.00 million during the quarter, compared to the consensus estimate of $14.07 million.

Zenas BioPharma Price Performance

NASDAQ:ZBIO opened at $28.26 on Friday. The stock has a 50 day moving average of $28.98 and a two-hundred day moving average of $25.14. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 1.57. Zenas BioPharma has a 12 month low of $13.50 and a 12 month high of $44.60.

Institutional Investors Weigh In On Zenas BioPharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in shares of Zenas BioPharma by 1,090.0% during the 3rd quarter. Sterling Capital Management LLC now owns 1,190 shares of the company’s stock worth $32,000 after purchasing an additional 1,090 shares in the last quarter. Quantbot Technologies LP bought a new stake in Zenas BioPharma during the 2nd quarter worth approximately $49,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Zenas BioPharma in the third quarter valued at about $90,000. Jupiter Topco LLC bought a new position in Zenas BioPharma during the second quarter valued at approximately $201,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Zenas BioPharma during the 2nd quarter valued at approximately $204,000.

Analyst Ratings Changes

Several equities analysts have recently commented on ZBIO shares. Weiss Ratings raised shares of Zenas BioPharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 23rd. HC Wainwright reaffirmed a “buy” rating and set a $44.00 price objective on shares of Zenas BioPharma in a report on Tuesday, October 13th. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, October 28th. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $55.00 price target on shares of Zenas BioPharma in a report on Wednesday, September 30th. Six equities research 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 MarketBeat.com, Zenas BioPharma has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Zenas BioPharma Company Profile

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.