Zhengye Biotechnology (NASDAQ:ZYBT) Stock Price Down 4.8% – Here’s What Happened

Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT)’s stock price dropped 4.8% during trading on Monday . The stock traded as low as $1.77 and last traded at $1.80. Approximately 443,959 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 16,103,109 shares. The stock had previously closed at $1.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Zhengye Biotechnology from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Zhengye Biotechnology Stock Down 4.8%

The company’s 50-day moving average is $1.19 and its 200-day moving average is $1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 1.14.

Institutional Trading of Zhengye Biotechnology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in Zhengye Biotechnology during the second quarter worth $1,158,000. WINTON GROUP Ltd lifted its stake in shares of Zhengye Biotechnology by 193.8% in the 4th quarter. WINTON GROUP Ltd now owns 63,297 shares of the company’s stock valued at $73,000 after purchasing an additional 41,750 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Zhengye Biotechnology by 71.4% during the 4th quarter. XTX Topco Ltd now owns 59,286 shares of the company’s stock worth $68,000 after purchasing an additional 24,697 shares during the period. Invesco Ltd. purchased a new position in shares of Zhengye Biotechnology during the 2nd quarter worth $220,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Zhengye Biotechnology during the 2nd quarter worth about $174,000.

Zhengye Biotechnology Company Profile

Zhengye Biotechnology Holding Limited is a veterinary vaccine manufacturer which encompasses research, development, manufacturing and sales of veterinary vaccines, with a focus on livestock vaccine principally in China. Zhengye Biotechnology Holding Limited is based in Jilin, China.