Zenas BioPharma’s (ZBIO) Buy Rating Reiterated at HC Wainwright

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $44.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 70.52% from the stock’s current price.

Several other research analysts have also recently weighed in on ZBIO. Wall Street Zen upgraded Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Morgan Stanley boosted their target price on Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Zenas BioPharma in a report on Tuesday, October 6th. Guggenheim restated a “buy” rating and set a $55.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th. Finally, Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Zenas BioPharma Price Performance

Shares of Zenas BioPharma stock traded down $0.60 on Tuesday, hitting $25.80. 191,096 shares of the company were exchanged, compared to its average volume of 812,448. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -2.88 and a beta of -0.90. The company has a 50-day moving average price of $30.71 and a 200 day moving average price of $25.37. Zenas BioPharma has a 1-year low of $13.50 and a 1-year high of $44.60. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 1.57.

Zenas BioPharma (NASDAQ:ZBIO) last issued its earnings results on Thursday, August 13th. The company reported ($1.77) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $15.00 million. As a group, sell-side analysts predict that Zenas BioPharma will post -5.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP acquired a new position in Zenas BioPharma in the second quarter valued at approximately $329,000. Squarepoint Ops LLC lifted its holdings in Zenas BioPharma by 192.0% in the second quarter. Squarepoint Ops LLC now owns 125,185 shares of the company’s stock valued at $3,177,000 after acquiring an additional 82,311 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Zenas BioPharma by 143.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company’s stock valued at $959,000 after acquiring an additional 22,267 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Zenas BioPharma by 27.9% in the second quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock valued at $40,451,000 after acquiring an additional 347,766 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Zenas BioPharma in the second quarter valued at approximately $31,247,000.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for patients with serious autoimmune diseases. The company’s research is centered on medicines designed to modulate the immune system while potentially avoiding the broad immune-cell depletion associated with some existing treatments.

Zenas’ lead product candidate is obexelimab, an investigational monoclonal antibody designed to bind CD19 and FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.