Zura Bio (NASDAQ:ZURA) Receives New Coverage from Analysts at Piper Sandler

Equities research analysts at Piper Sandler initiated coverage on shares of Zura Bio (NASDAQ:ZURA) in a report released on Friday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $26.00 price target on the stock. Piper Sandler’s price objective would indicate a potential upside of 462.77% from the company’s previous close.

Separately, Oppenheimer restated an “outperform” rating and issued a $16.00 target price (down from $17.00) on shares of Zura Bio in a report on Monday, April 1st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Zura Bio presently has an average rating of “Buy” and a consensus price target of $18.00.

Zura Bio Stock Performance

NASDAQ:ZURA opened at $4.62 on Friday. The company’s 50-day moving average is $3.26 and its two-hundred day moving average is $3.95. Zura Bio has a 12-month low of $2.00 and a 12-month high of $14.00.

Insider Transactions at Zura Bio

In related news, Director Amit Munshi acquired 159,744 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were acquired at an average cost of $3.13 per share, for a total transaction of $499,998.72. Following the acquisition, the director now directly owns 777,384 shares in the company, valued at approximately $2,433,211.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 170,926 shares of company stock worth $534,998 in the last three months. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Armistice Capital LLC lifted its position in shares of Zura Bio by 66.3% during the third quarter. Armistice Capital LLC now owns 1,580,000 shares of the company’s stock worth $10,428,000 after purchasing an additional 630,000 shares during the last quarter. Silverarc Capital Management LLC lifted its holdings in Zura Bio by 152.5% during the 3rd quarter. Silverarc Capital Management LLC now owns 404,040 shares of the company’s stock worth $2,667,000 after buying an additional 244,040 shares during the last quarter. Eisler Capital US LLC acquired a new position in shares of Zura Bio in the 3rd quarter worth approximately $660,000. Bank of New York Mellon Corp acquired a new stake in shares of Zura Bio during the 3rd quarter valued at approximately $224,000. Finally, Forefront Analytics LLC bought a new position in Zura Bio during the third quarter worth $95,000. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

About Zura Bio

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops Tibulizumab, an IgG-scFv bispecific dual-antagonist antibody engineered by the fusion of ixekizumab and tabalumab that neutralizes IL-17A and BAFF, which is in Phase 2 clinical trial development; ZB-168, a monoclonal antibody that binds and neutralizes the IL-7 receptor chain that impact on diseases driven by IL7 and thymic stromal lymphopoietin immune pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.