Zhengye Biotechnology (NASDAQ:ZYBT) Trading Down 2.8% – Here’s Why

Shares of Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT) traded down 2.8% during trading on Monday . The stock traded as low as $2.33 and last traded at $2.39. 27,945 shares traded hands during trading, a decline of 78% from the average session volume of 127,313 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen raised shares of Zhengye Biotechnology to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Zhengye Biotechnology in a research report on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Zhengye Biotechnology Stock Down 2.8%

The company’s 50 day moving average price is $5.44 and its two-hundred day moving average price is $6.85.

Hedge Funds Weigh In On Zhengye Biotechnology

Several institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC bought a new position in shares of Zhengye Biotechnology in the 2nd quarter worth approximately $174,000. Invesco Ltd. purchased a new stake in Zhengye Biotechnology in the 2nd quarter worth approximately $220,000. Finally, Jane Street Group LLC purchased a new stake in Zhengye Biotechnology in the 2nd quarter worth approximately $1,158,000.

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.