Zenas BioPharma (NASDAQ:ZBIO) Shares Gap Down – Here’s What Happened

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $22.16, but opened at $19.23. Zenas BioPharma shares last traded at $17.3350, with a volume of 898,114 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ZBIO shares. HC Wainwright restated a “buy” rating and set a $44.00 price target on shares of Zenas BioPharma in a research note on Tuesday, March 17th. Wedbush reiterated an “outperform” rating and issued a $45.00 price objective on shares of Zenas BioPharma in a research note on Monday, December 22nd. Zacks Research downgraded Zenas BioPharma from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Guggenheim raised their target price on shares of Zenas BioPharma from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Finally, Morgan Stanley lifted their target price on shares of Zenas BioPharma from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, March 17th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Zenas BioPharma presently has a consensus rating of “Hold” and a consensus price target of $44.14.

Zenas BioPharma Stock Performance

The stock has a market cap of $1.04 billion, a PE ratio of -2.33 and a beta of -1.94. The stock has a fifty day moving average of $23.17 and a 200-day moving average of $27.28. The company has a quick ratio of 5.61, a current ratio of 5.61 and a debt-to-equity ratio of 0.32.

Zenas BioPharma (NASDAQ:ZBIO) last posted its quarterly earnings data on Monday, March 16th. The company reported ($4.54) EPS for the quarter, missing the consensus estimate of ($1.22) by ($3.32).

Insider Transactions at Zenas BioPharma

In other news, Director Hongbo Lu acquired 25,985 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were bought at an average cost of $22.50 per share, with a total value of $584,662.50. Following the purchase, the director owned 347,968 shares of the company’s stock, valued at $7,829,280. This represents a 8.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia L. Allen acquired 4,160 shares of the business’s stock in a transaction on Friday, February 13th. The shares were purchased at an average price of $26.36 per share, with a total value of $109,657.60. Following the transaction, the director owned 19,860 shares in the company, valued at $523,509.60. The trade was a 26.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 202,845 shares of company stock worth $3,747,185 over the last 90 days. 22.00% of the stock is currently owned by insiders.

Institutional Trading of Zenas BioPharma

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings 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 acquiring an additional 2,679 shares during the period. Geode Capital Management LLC boosted its position in shares of Zenas BioPharma by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock worth $3,621,000 after purchasing an additional 16,461 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Zenas BioPharma by 13.9% during the 2nd quarter. Intech Investment Management LLC now owns 13,206 shares of the company’s stock worth $128,000 after purchasing an additional 1,607 shares during the period. Rhumbline Advisers increased its holdings in shares of Zenas BioPharma by 71.3% in the 2nd quarter. Rhumbline Advisers now owns 19,721 shares of the company’s stock valued at $191,000 after purchasing an additional 8,207 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Zenas BioPharma by 60.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock valued at $18,041,000 after purchasing an additional 703,838 shares in the last quarter.

About Zenas BioPharma

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.