Zenas BioPharma (NASDAQ:ZBIO) Raised to Hold at Wall Street Zen

Zenas BioPharma (NASDAQ:ZBIO) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities analysts have also weighed in on the company. Citigroup upped their price objective on Zenas BioPharma from $27.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Morgan Stanley upped their price target on Zenas BioPharma from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Wedbush reiterated an “outperform” rating and set a $45.00 price objective (up previously from $40.00) on shares of Zenas BioPharma in a research report on Monday, October 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a report on Thursday, October 30th. Finally, HC Wainwright upped their target price on shares of Zenas BioPharma from $30.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Zenas BioPharma has an average rating of “Moderate Buy” and a consensus target price of $44.33.

Zenas BioPharma Price Performance

Shares of NASDAQ ZBIO opened at $33.61 on Friday. The stock has a market cap of $1.42 billion, a PE ratio of -5.77 and a beta of -1.53. Zenas BioPharma has a 1 year low of $5.83 and a 1 year high of $34.33. The firm has a fifty day moving average price of $23.60 and a 200-day moving average price of $16.28.

Zenas BioPharma (NASDAQ:ZBIO) last issued its earnings results on Tuesday, August 12th. The company reported ($1.25) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.23).

Insider Buying and Selling at Zenas BioPharma

In other Zenas BioPharma news, Director Hongbo Lu purchased 263,160 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was purchased at an average price of $19.00 per share, with a total value of $5,000,040.00. Following the acquisition, the director owned 321,983 shares in the company, valued at approximately $6,117,677. The trade was a 447.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Fairmount Funds Management Llc purchased 316,219 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was bought at an average price of $19.00 per share, with a total value of $6,008,161.00. Following the transaction, the director owned 2,209,025 shares of the company’s stock, valued at $41,971,475. This represents a 16.71% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 923,035 shares of company stock valued at $17,628,163 over the last ninety days. Corporate insiders own 16.50% of the company’s stock.

Institutional Investors Weigh In On Zenas BioPharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund bought a new stake in shares of Zenas BioPharma in the 1st quarter valued at approximately $49,000. PNC Financial Services Group Inc. raised its holdings in Zenas BioPharma by 41.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company’s stock valued at $89,000 after buying an additional 2,679 shares during the period. Sei Investments Co. bought a new stake in Zenas BioPharma in the second quarter worth $118,000. Intech Investment Management LLC lifted its position in Zenas BioPharma by 13.9% in the second quarter. Intech Investment Management LLC now owns 13,206 shares of the company’s stock worth $128,000 after buying an additional 1,607 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Zenas BioPharma by 32.3% during the second quarter. Bank of America Corp DE now owns 13,991 shares of the company’s stock worth $136,000 after buying an additional 3,412 shares during the period.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage global biopharmaceutical company, which engages in the development and commercialization of transformative immunology-based therapies for patients. The company was founded by Lonnie O. Moulder Jr on November 12, 2019 and is headquartered in Waltham, MA.