Zentalis Pharmaceuticals (NASDAQ:ZNTL) Trading Down 2.6% After Insider Selling

Zentalis Pharmaceuticals, Inc. (NASDAQ:ZNTL) was down 2.6% during trading on Thursday after an insider sold shares in the company. The company traded as low as $23.46 and last traded at $23.61. Approximately 109,454 shares were traded during trading, a decline of 84% from the average daily volume of 678,185 shares. The stock had previously closed at $24.25.

Specifically, Director Jan Skvarka sold 5,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $25.05, for a total value of $125,250.00. Following the sale, the director now directly owns 47,970 shares in the company, valued at $1,201,648.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Zentalis Pharmaceuticals news, major shareholder Matrix Capital Management Comp purchased 4,760,000 shares of Zentalis Pharmaceuticals stock in a transaction dated Tuesday, June 20th. The shares were purchased at an average cost of $22.66 per share, for a total transaction of $107,861,600.00. Following the completion of the acquisition, the insider now owns 13,959,973 shares in the company, valued at approximately $316,332,988.18. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jan Skvarka sold 5,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $25.05, for a total value of $125,250.00. Following the transaction, the director now owns 47,970 shares in the company, valued at $1,201,648.50. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Zentalis Pharmaceuticals from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, August 10th. Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of Zentalis Pharmaceuticals in a report on Thursday, August 10th. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Zentalis Pharmaceuticals in a report on Thursday, August 10th. Jefferies Financial Group reduced their price objective on Zentalis Pharmaceuticals from $120.00 to $70.00 in a report on Friday, May 19th. Finally, Stifel Nicolaus increased their target price on Zentalis Pharmaceuticals from $45.00 to $50.00 in a research report on Wednesday, June 7th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $47.50.

Zentalis Pharmaceuticals Trading Down 1.9 %

The firm has a market cap of $1.68 billion, a P/E ratio of -4.96 and a beta of 1.78. The firm has a 50-day simple moving average of $26.14 and a 200-day simple moving average of $23.84.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last announced its earnings results on Wednesday, August 9th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.82). During the same period in the previous year, the firm posted ($1.34) earnings per share. Research analysts predict that Zentalis Pharmaceuticals, Inc. will post -4.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Opaleye Management Inc. purchased a new position in Zentalis Pharmaceuticals during the 4th quarter worth $3,373,000. Federated Hermes Inc. grew its stake in Zentalis Pharmaceuticals by 22.7% during the 1st quarter. Federated Hermes Inc. now owns 1,486,998 shares of the company’s stock worth $25,576,000 after buying an additional 275,398 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Zentalis Pharmaceuticals by 36.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,835 shares of the company’s stock worth $513,000 after buying an additional 7,914 shares during the last quarter. Profund Advisors LLC purchased a new position in Zentalis Pharmaceuticals during the 1st quarter worth $669,000. Finally, Avidity Partners Management LP grew its stake in Zentalis Pharmaceuticals by 21.9% during the 4th quarter. Avidity Partners Management LP now owns 5,150,000 shares of the company’s stock valued at $103,721,000 after purchasing an additional 926,900 shares during the last quarter.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics for the treatment of various cancers. Its products candidatures include the ZN-c3, an inhibitor of WEE1, a protein tyrosine kinase, which is in Phase 2 clinical trial for the treatment of inhibitor for advanced solid tumors and hematological malignancies; in Phase 2 clinical trial as a monotherapy for the treatment of uterine serous carcinoma indications; Phase 2 clinical trial in Cyclin E1 driven high-grade serous ovarian cancer, fallopian tube, or primary peritoneal cancer; Phase 1/2 clinical trial in combination with PARPi for platinum-resistant ovarian cancer; Phase 1b clinical trial in combination with chemotherapy in platinum-resistant ovarian, and peritoneal or fallopian tube cancer; Phase 1/2 clinical trial in combination with chemotherapy in relapsed or refractory osteosarcoma; Phase 1/2 clinical trial with encorafenib and cetuximab for mutant metastatic colorectal cancer; and Phase 1/2 clinical trial in combination with chemotherapy in pancreatic cancer.