Zenas BioPharma (NASDAQ:ZBIO) Hits New 52-Week High – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares reached a new 52-week high on Monday . The stock traded as high as $41.50 and last traded at $40.18, with a volume of 90080 shares changing hands. The stock had previously closed at $39.38.

Analyst Upgrades and Downgrades

ZBIO has been the topic of several research reports. Evercore ISI initiated coverage on shares of Zenas BioPharma in a report on Wednesday, November 26th. They set an “outperform” rating and a $55.00 price objective on the stock. Wall Street Zen raised Zenas BioPharma from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Morgan Stanley upped their price target on Zenas BioPharma from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Wedbush reiterated an “outperform” rating and issued a $45.00 price target (up previously from $40.00) on shares of Zenas BioPharma in a report on Monday, October 27th. Finally, Citigroup boosted their price objective on Zenas BioPharma from $27.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.29.

Zenas BioPharma Price Performance

The firm has a market cap of $2.14 billion, a P/E ratio of -5.65 and a beta of -1.62. The company has a fifty day moving average of $30.63 and a 200-day moving average of $20.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.66 and a quick ratio of 5.66.

Zenas BioPharma (NASDAQ:ZBIO) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.35).

Insider Buying and Selling at Zenas BioPharma

In other Zenas BioPharma news, Director Jason Raleigh Nunn bought 63,158 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were purchased at an average price of $19.00 per share, for a total transaction of $1,200,002.00. Following the purchase, the director directly owned 1,173,395 shares of the company’s stock, valued at approximately $22,294,505. This represents a 5.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fairmount Funds Management Llc bought 316,219 shares of Zenas BioPharma stock in a transaction dated Tuesday, October 7th. The stock was acquired at an average cost of $19.00 per share, with a total value of $6,008,161.00. Following the completion of the acquisition, the director owned 2,209,025 shares of the company’s stock, valued at $41,971,475. This represents a 16.71% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 923,035 shares of company stock valued at $17,628,163 in the last quarter. 16.50% of the stock is owned by company insiders.

Institutional Trading of Zenas BioPharma

Hedge funds have recently bought and sold shares of the business. Quarry LP lifted its stake in shares of Zenas BioPharma by 34.5% during the 3rd quarter. Quarry LP now owns 1,134 shares of the company’s stock valued at $25,000 after buying an additional 291 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Zenas BioPharma during the 3rd quarter valued at $30,000. BNP Paribas Financial Markets raised its holdings in Zenas BioPharma by 120.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,146 shares of the company’s stock valued at $70,000 after acquiring an additional 1,716 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Zenas BioPharma by 41.2% during the second quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company’s stock worth $89,000 after acquiring an additional 2,679 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Zenas BioPharma in the second quarter worth $118,000.

About Zenas BioPharma

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.