Zenas BioPharma (NASDAQ:ZBIO) Stock Price Up 7.1% – Still a Buy?

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares were up 7.1% during mid-day trading on Thursday. The company traded as high as $28.63 and last traded at $28.8920. Approximately 235,954 shares were traded during trading, a decline of 71% from the average daily volume of 815,445 shares. The stock had previously closed at $26.97.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZBIO. Weiss Ratings downgraded shares of Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 9th. Wall Street Zen upgraded Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Morgan Stanley upped their target price on Zenas BioPharma from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Zenas BioPharma in a research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $44.00 price target on shares of Zenas BioPharma in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Zenas BioPharma Stock Performance

The company’s 50-day moving average is $31.38 and its two-hundred day moving average is $25.10. 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 company has a market cap of $1.87 billion, a P/E ratio of -3.21 and a beta of -1.04.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $15.00 million. Equities analysts predict that Zenas BioPharma, Inc. will post -5.81 EPS for the current year.

Hedge Funds Weigh In On Zenas BioPharma

Several institutional investors and hedge funds have recently bought and sold shares of ZBIO. Walleye Capital LLC purchased a new stake in Zenas BioPharma in the second quarter worth $5,306,000. Bank of America Corp DE increased its holdings in Zenas BioPharma by 723.5% in the 1st quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock worth $7,592,000 after acquiring an additional 341,187 shares during the last quarter. NEXTBio Capital Management LP purchased a new stake in Zenas BioPharma in the 4th quarter worth about $11,691,000. J. Goldman & Co LP bought a new stake in Zenas BioPharma in the 2nd quarter valued at about $1,732,000. Finally, EcoR1 Capital LLC purchased a new stake in Zenas BioPharma during the fourth quarter valued at about $28,667,000.

Zenas BioPharma Company Profile

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.