Zenas BioPharma (NASDAQ:ZBIO) Shares Down 4.5% – Time to Sell?

Zenas BioPharma, Inc. (NASDAQ:ZBIO) dropped 4.5% during mid-day trading on Tuesday. The company traded as low as $26.53 and last traded at $26.30. Approximately 17,790 shares traded hands during trading, a decline of 98% from the average session volume of 817,403 shares. The stock had previously closed at $27.55.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZBIO. Wedbush reissued an “outperform” rating and set a $45.00 price objective on shares of Zenas BioPharma in a report on Friday, August 14th. Guggenheim reaffirmed a “buy” rating and set a $55.00 target price on shares of Zenas BioPharma in a research report on Friday, August 14th. HC Wainwright reaffirmed a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Wall Street Zen upgraded Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.71.

Zenas BioPharma Price Performance

The firm has a market cap of $1.72 billion, a PE ratio of -2.93 and a beta of -1.04. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 1.57. The stock has a 50 day moving average price of $31.58 and a two-hundred day moving average price of $25.07.

Zenas BioPharma (NASDAQ:ZBIO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $15.00 million. As a group, equities analysts expect that Zenas BioPharma, Inc. will post -5.81 earnings per share for the current year.

Institutional Trading of Zenas BioPharma

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Zenas BioPharma in the 2nd quarter worth approximately $68,176,000. Wellington Management Group LLP raised its position in Zenas BioPharma by 27.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock worth $40,451,000 after buying an additional 347,766 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in Zenas BioPharma during the 4th quarter valued at approximately $38,402,000. Bank of America Corp DE purchased a new stake in Zenas BioPharma in the second quarter valued at $31,247,000. Finally, EcoR1 Capital LLC purchased a new stake in shares of Zenas BioPharma in the fourth quarter worth about $28,667,000.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for patients with immune-mediated diseases. The company’s research and development efforts are centered on therapies that modulate the immune system and address conditions with significant unmet medical needs.

Zenas’ lead investigational product is obexelimab, an immune-modulating monoclonal antibody designed to inhibit the activity of certain B cells without broadly depleting them. The company is evaluating obexelimab in autoimmune and inflammatory diseases, including IgG4-related disease and systemic lupus erythematosus.