Zenas BioPharma (NASDAQ:ZBIO) Stock Price Down 6.1% – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s stock price traded down 6.1% on Monday . The company traded as low as $18.68 and last traded at $18.5950. 284,498 shares changed hands during trading, a decline of 65% from the average session volume of 808,482 shares. The stock had previously closed at $19.80.

Analyst Upgrades and Downgrades

ZBIO has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zenas BioPharma in a report on Friday, March 27th. HC Wainwright reaffirmed a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Guggenheim raised their price target on shares of Zenas BioPharma from $45.00 to $55.00 and gave the company a “buy” rating in a report on Monday, March 16th. Wall Street Zen raised shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Morgan Stanley raised their price target on shares of Zenas BioPharma from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, May 14th. Six 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. Based on data from MarketBeat, Zenas BioPharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.

Zenas BioPharma Stock Performance

The company has a quick ratio of 11.94, a current ratio of 11.94 and a debt-to-equity ratio of 1.04. The company has a market cap of $1.18 billion, a PE ratio of -2.21 and a beta of -0.71. The business’s fifty day moving average is $19.44 and its 200-day moving average is $24.58.

Zenas BioPharma (NASDAQ:ZBIO) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($1.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.01. During the same quarter in the previous year, the company posted ($0.80) earnings per share. As a group, research analysts predict that Zenas BioPharma, Inc. will post -4.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Zenas BioPharma news, Director Hongbo Lu acquired 3,768 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The shares were bought at an average price of $18.63 per share, with a total value of $70,197.84. Following the completion of the acquisition, the director owned 426,736 shares in the company, valued at $7,950,091.68. This represents a 0.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leon O. Moulder, Jr. acquired 60,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $16.88 per share, for a total transaction of $1,012,800.00. Following the acquisition, the chief executive officer owned 96,928 shares of the company’s stock, valued at $1,636,144.64. The trade was a 162.48% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 273,768 shares of company stock valued at $5,150,198. 22.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Zenas BioPharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZBIO. Geode Capital Management LLC increased its stake in shares of Zenas BioPharma by 4.6% in the second quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock worth $3,621,000 after purchasing an additional 16,461 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Zenas BioPharma by 71.3% during the 2nd quarter. Rhumbline Advisers now owns 19,721 shares of the company’s stock valued at $191,000 after buying an additional 8,207 shares in the last quarter. Sei Investments Co. bought a new position in Zenas BioPharma in the 2nd quarter worth $118,000. Bank of America Corp DE boosted its holdings in Zenas BioPharma by 32.3% in the 2nd quarter. Bank of America Corp DE now owns 13,991 shares of the company’s stock worth $136,000 after buying an additional 3,412 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Zenas BioPharma by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock worth $25,813,000 after buying an additional 170,546 shares during the period.

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.