Zenas BioPharma (NASDAQ:ZBIO) Stock Rating Upgraded by Wall Street Zen

Zenas BioPharma (NASDAQ:ZBIO) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

ZBIO has been the topic of several other research reports. Citigroup reissued a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Morgan Stanley increased their price objective on Zenas BioPharma from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zenas BioPharma in a research report on Wednesday. HC Wainwright restated a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Finally, Guggenheim upped their price target on Zenas BioPharma from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Zenas BioPharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.

Zenas BioPharma Stock Up 4.9%

Zenas BioPharma stock opened at $25.87 on Friday. The company has a 50 day moving average of $19.33 and a 200-day moving average of $23.45. The company has a quick ratio of 11.94, a current ratio of 11.94 and a debt-to-equity ratio of 1.04. Zenas BioPharma has a twelve month low of $8.91 and a twelve month high of $44.60. The stock has a market capitalization of $1.63 billion, a PE ratio of -3.05 and a beta of -0.71.

Zenas BioPharma (NASDAQ:ZBIO) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.47) by $0.01. During the same quarter in the prior year, the firm earned ($0.80) earnings per share. On average, equities research analysts anticipate that Zenas BioPharma will post -4.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO Leon O. Moulder, Jr. bought 60,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $16.88 per share, for a total transaction of $1,012,800.00. Following the completion of the acquisition, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hongbo Lu purchased 3,768 shares of the firm’s stock in a transaction on Tuesday, March 31st. The stock was bought at an average price of $18.63 per share, with a total value of $70,197.84. Following the completion of the purchase, the director owned 426,736 shares of the company’s stock, valued at approximately $7,950,091.68. This represents a 0.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 273,768 shares of company stock worth $5,150,198 in the last quarter. Corporate insiders own 22.00% of the company’s stock.

Hedge Funds Weigh In On Zenas BioPharma

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in Zenas BioPharma by 723.5% during the first quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock worth $7,592,000 after acquiring an additional 341,187 shares in the last quarter. Exome Asset Management LLC bought a new position in shares of Zenas BioPharma in the 1st quarter valued at about $1,578,000. Quantinno Capital Management LP bought a new position in shares of Zenas BioPharma in the 1st quarter valued at about $413,000. Sei Investments Co. acquired a new position in shares of Zenas BioPharma during the 1st quarter worth about $242,000. Finally, Walleye Capital LLC acquired a new position in shares of Zenas BioPharma during the 1st quarter worth about $2,448,000.

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.