Zentalis Pharmaceuticals (NASDAQ:ZNTL) Shares Gap Down to $28.27

Zentalis Pharmaceuticals, Inc. (NASDAQ:ZNTLGet Rating)’s share price gapped down before the market opened on Friday . The stock had previously closed at $28.27, but opened at $27.33. Zentalis Pharmaceuticals shares last traded at $28.87, with a volume of 203 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ZNTL. Guggenheim decreased their price target on shares of Zentalis Pharmaceuticals to $57.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. Morgan Stanley cut their price objective on shares of Zentalis Pharmaceuticals from $95.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, August 11th. HC Wainwright cut their price objective on shares of Zentalis Pharmaceuticals from $120.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. SVB Leerink cut their price objective on shares of Zentalis Pharmaceuticals from $67.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. Finally, Cowen started coverage on shares of Zentalis Pharmaceuticals in a report on Tuesday, July 12th. They set an “outperform” rating on the stock. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $61.38.

Zentalis Pharmaceuticals Price Performance

The company’s fifty day simple moving average is $28.62 and its 200-day simple moving average is $31.15. The firm has a market capitalization of $1.69 billion, a PE ratio of -7.72 and a beta of 1.88.

Zentalis Pharmaceuticals (NASDAQ:ZNTLGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.21) by ($0.13). As a group, equities research analysts anticipate that Zentalis Pharmaceuticals, Inc. will post -4.78 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Kevin D. Bunker sold 1,710 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $30.02, for a total transaction of $51,334.20. Following the sale, the chief operating officer now directly owns 108,290 shares of the company’s stock, valued at $3,250,865.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Kevin D. Bunker sold 1,710 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $30.02, for a total transaction of $51,334.20. Following the sale, the chief operating officer now directly owns 108,290 shares of the company’s stock, valued at $3,250,865.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Kevin D. Bunker sold 25,000 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $30.07, for a total transaction of $751,750.00. Following the sale, the chief operating officer now directly owns 110,000 shares in the company, valued at $3,307,700. The disclosure for this sale can be found here. Insiders have sold 31,710 shares of company stock valued at $953,084 over the last ninety days. 19.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZNTL. Matrix Capital Management Company LP lifted its position in Zentalis Pharmaceuticals by 111.5% during the second quarter. Matrix Capital Management Company LP now owns 9,199,973 shares of the company’s stock valued at $258,519,000 after purchasing an additional 4,850,694 shares during the period. Decheng Capital Management III Cayman LLC acquired a new position in Zentalis Pharmaceuticals during the second quarter valued at $51,271,000. State Street Corp lifted its position in Zentalis Pharmaceuticals by 50.0% during the second quarter. State Street Corp now owns 3,119,734 shares of the company’s stock valued at $87,665,000 after purchasing an additional 1,039,294 shares during the period. FMR LLC lifted its position in Zentalis Pharmaceuticals by 15.3% during the second quarter. FMR LLC now owns 7,776,168 shares of the company’s stock valued at $218,510,000 after purchasing an additional 1,033,474 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in Zentalis Pharmaceuticals during the fourth quarter valued at $36,192,000.

Zentalis Pharmaceuticals Company Profile

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Zentalis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics for the treatment of various cancers. Its lead product candidate includes the ZN-c3, an inhibitor of WEE1, a protein tyrosine kinase, which is in Phase 2 clinical trial for the treatment of advanced solid tumors; Phase 1/2 clinical trial for the treatment of advanced solid tumors as a monotherapy and in an ongoing Phase 1b clinical trial in combination with chemotherapy in patients with platinum resistant ovarian cancer; and Phase 2 monotherapy trial for a tumor agnostic, predictive biomarker.

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