Zenas BioPharma (NASDAQ:ZBIO) Upgraded at Wall Street Zen

Zenas BioPharma (NASDAQ:ZBIO) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

ZBIO has been the topic of several other reports. Wedbush restated an “outperform” rating and set a $45.00 price objective (up from $40.00) on shares of Zenas BioPharma in a report on Monday, October 27th. Morgan Stanley lifted their price target on shares of Zenas BioPharma from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Citigroup increased their price objective on shares of Zenas BioPharma from $27.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a report on Thursday, October 30th. Finally, HC Wainwright upped their target price on shares of Zenas BioPharma from $30.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.33.

Zenas BioPharma Trading Up 3.5%

NASDAQ:ZBIO traded up $1.15 on Friday, reaching $33.61. The stock had a trading volume of 338,777 shares, compared to its average volume of 590,538. The company has a 50-day moving average of $23.60 and a 200 day moving average of $16.19. The stock has a market cap of $1.42 billion, a P/E ratio of -5.77 and a beta of -1.51. Zenas BioPharma has a 12-month low of $5.83 and a 12-month high of $34.33.

Zenas BioPharma (NASDAQ:ZBIO) last announced its earnings results on Tuesday, August 12th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.23).

Insider Transactions at Zenas BioPharma

In related news, Director Jason Raleigh Nunn bought 63,158 shares of the firm’s stock in a transaction on Thursday, October 9th. The stock was bought at an average cost of $19.00 per share, for a total transaction of $1,200,002.00. Following the completion of the purchase, the director directly owned 1,173,395 shares in the company, valued at approximately $22,294,505. The trade was a 5.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick G. Enright bought 105,265 shares of the stock in a transaction dated Thursday, October 9th. The shares were bought at an average cost of $19.00 per share, with a total value of $2,000,035.00. Following the completion of the acquisition, the director directly owned 1,832,669 shares of the company’s stock, valued at approximately $34,820,711. The trade was a 6.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 923,035 shares of company stock valued at $17,628,163 over the last ninety days. Insiders own 16.50% of the company’s stock.

Institutional Investors Weigh In On Zenas BioPharma

Several large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its stake in Zenas BioPharma by 60.8% in the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock valued at $18,041,000 after buying an additional 703,838 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Zenas BioPharma by 17.2% during the third quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock worth $25,813,000 after acquiring an additional 170,546 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Zenas BioPharma by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock worth $3,621,000 after acquiring an additional 16,461 shares during the period. Jefferies Financial Group Inc. bought a new stake in Zenas BioPharma in the 1st quarter valued at about $348,000. Finally, Nuveen LLC acquired a new position in Zenas BioPharma during the 1st quarter valued at about $250,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage global biopharmaceutical company, which engages in the development and commercialization of transformative immunology-based therapies for patients. The company was founded by Lonnie O. Moulder Jr on November 12, 2019 and is headquartered in Waltham, MA.