Zenas BioPharma (NASDAQ:ZBIO) Stock Price Down 8% – Should You Sell?

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) traded down 8% during mid-day trading on Friday . The stock traded as low as $26.95 and last traded at $27.0850. 95,055 shares changed hands during trading, a decline of 89% from the average daily volume of 855,310 shares. The stock had previously closed at $29.43.

Wall Street Analyst Weigh In

ZBIO has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Citigroup restated a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. HC Wainwright restated a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Wall Street Zen upgraded shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Guggenheim boosted their target price on Zenas BioPharma from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Zenas BioPharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.

Zenas BioPharma Trading Down 2.3%

The company has a current ratio of 11.94, a quick ratio of 11.94 and a debt-to-equity ratio of 1.04. The firm has a market cap of $1.81 billion, a PE ratio of -3.39 and a beta of -0.96. The business has a fifty day moving average price of $20.91 and a 200 day moving average price of $22.75.

Zenas BioPharma (NASDAQ:ZBIO) last posted its earnings results on Wednesday, May 13th. The company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.47) by $0.01. During the same period in the previous year, the firm posted ($0.80) EPS. Analysts forecast that Zenas BioPharma, Inc. will post -4.47 EPS for the current year.

Insider Buying and Selling at Zenas BioPharma

In related news, CEO Leon O. Moulder, Jr. acquired 60,000 shares of Zenas BioPharma stock in a transaction dated Monday, May 18th. The stock was acquired at an average price of $16.88 per share, for a total transaction of $1,012,800.00. Following the transaction, the chief executive officer owned 96,928 shares of the company’s stock, valued at $1,636,144.64. This represents a 162.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 120,000 shares of company stock worth $2,080,000. 22.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zenas BioPharma

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in shares of 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 buying an additional 341,187 shares during the last quarter. Exome Asset Management LLC acquired a new stake in Zenas BioPharma during the 1st quarter worth approximately $1,578,000. Quantinno Capital Management LP acquired a new stake in Zenas BioPharma during the 1st quarter worth approximately $413,000. Sei Investments Co. purchased a new position in shares of Zenas BioPharma in the 1st quarter valued at approximately $242,000. Finally, Walleye Capital LLC purchased a new position in shares of Zenas BioPharma in the 1st quarter valued at approximately $2,448,000.

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.