Zhengye Biotechnology (NASDAQ:ZYBT) Stock Price Down 4.9% – Here’s Why

Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT) dropped 4.9% on Wednesday . The stock traded as low as $9.50 and last traded at $9.55. Approximately 412,949 shares traded hands during mid-day trading, an increase of 38% from the average daily volume of 299,020 shares. The stock had previously closed at $10.04.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Zhengye Biotechnology to a “hold” rating in a research report on Saturday, August 2nd.

Zhengye Biotechnology Stock Performance

The company has a current ratio of 1.31, a quick ratio of 0.88 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average is $7.36 and its two-hundred day moving average is $7.18.

Hedge Funds Weigh In On Zhengye Biotechnology

Several hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new position in shares of Zhengye Biotechnology during the 2nd quarter worth approximately $1,158,000. Invesco Ltd. bought a new stake in Zhengye Biotechnology during the second quarter worth $220,000. Finally, Geode Capital Management LLC bought a new stake in Zhengye Biotechnology during the second quarter worth $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.