Zenas BioPharma (NASDAQ:ZBIO) Sets New 52-Week High – Here’s What Happened

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) hit a new 52-week high on Tuesday . The stock traded as high as $42.99 and last traded at $42.33, with a volume of 727990 shares trading hands. The stock had previously closed at $36.15.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZBIO. HC Wainwright reiterated a “buy” rating on shares of Zenas BioPharma in a report on Tuesday, December 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $52.00 target price on shares of Zenas BioPharma in a research report on Monday, October 27th. Morgan Stanley increased their price target on Zenas BioPharma from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Wedbush restated an “outperform” rating and set a $45.00 price objective on shares of Zenas BioPharma in a report on Monday. Finally, Citigroup increased their target price on Zenas BioPharma from $27.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Zenas BioPharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.29.

Zenas BioPharma Stock Up 0.8%

The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -6.11 and a beta of -1.61. The stock has a 50 day moving average of $34.45 and a 200 day moving average of $22.54.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Wednesday, November 12th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.35).

Insider Transactions at Zenas BioPharma

In other Zenas BioPharma news, Director Patrick G. Enright bought 105,265 shares of the stock in a transaction on Thursday, October 9th. The stock was purchased at an average price of $19.00 per share, for a total transaction of $2,000,035.00. Following the completion of the purchase, the director directly owned 1,832,669 shares in the company, valued at approximately $34,820,711. This trade represents a 6.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sr One Capital Management, Llc purchased 126,315 shares of Zenas BioPharma stock in a transaction dated Thursday, October 9th. The stock was acquired at an average price of $19.00 per share, for a total transaction of $2,399,985.00. Following the completion of the transaction, the insider owned 1,917,895 shares in the company, valued at approximately $36,440,005. The trade was a 7.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 923,035 shares of company stock valued at $17,628,163 over the last quarter. Insiders own 16.50% of the company’s stock.

Hedge Funds Weigh In On Zenas BioPharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP raised its position in shares of Zenas BioPharma by 34.5% during the 3rd quarter. Quarry LP now owns 1,134 shares of the company’s stock worth $25,000 after purchasing an additional 291 shares during the period. Russell Investments Group Ltd. bought a new position in Zenas BioPharma during the 3rd quarter worth $30,000. BNP Paribas Financial Markets increased its position in Zenas BioPharma by 120.0% in the third quarter. BNP Paribas Financial Markets now owns 3,146 shares of the company’s stock worth $70,000 after buying an additional 1,716 shares during the period. PNC Financial Services Group Inc. lifted its stake in Zenas BioPharma by 41.2% in the second 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 last quarter. Finally, Sei Investments Co. acquired a new position in shares of Zenas BioPharma during the second quarter valued at $118,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel therapies in oncology and infectious diseases. The company’s proprietary platform integrates structure-guided design, computational modeling and high-throughput screening to address challenging protein-protein interactions. Zenas BioPharma is advancing multiple preclinical and clinical-stage candidates aimed at providing new treatment options where current modalities may be limited by efficacy or safety concerns.

Founded in 2021 and headquartered in Cambridge, Massachusetts, Zenas BioPharma was built to streamline the drug discovery process from target identification through to IND-enabling studies.