Zenas BioPharma (NASDAQ:ZBIO) Shares Up 7.6% on Insider Buying Activity

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares rose 7.6% during trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $22.12 and last traded at $21.9120. Approximately 666,115 shares traded hands during trading, a decline of 34% from the average daily volume of 1,006,415 shares. The stock had previously closed at $20.36.

Specifically, Director Hongbo Lu bought 3,768 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were acquired at an average cost of $18.63 per share, for a total transaction of $70,197.84. Following the transaction, the director owned 426,736 shares in the company, valued at approximately $7,950,091.68. The trade was a 0.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Fairmount Funds Management Llc bought 150,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $3,000,000.00. Following the purchase, the director owned 2,359,025 shares of the company’s stock, valued at $47,180,500. This trade represents a 6.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ZBIO shares. Wedbush restated an “outperform” rating and set a $45.00 price target on shares of Zenas BioPharma in a research note on Monday, December 22nd. Wall Street Zen lowered Zenas BioPharma from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Zenas BioPharma in a report on Friday, March 27th. Jefferies Financial Group restated a “buy” rating and set a $48.00 target price on shares of Zenas BioPharma in a research report on Tuesday, January 6th. Finally, Morgan Stanley boosted their price target on Zenas BioPharma from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 17th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Zenas BioPharma currently has a consensus rating of “Hold” and an average price target of $44.14.

Zenas BioPharma Stock Performance

The company has a quick ratio of 5.61, a current ratio of 5.61 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.75 and a beta of -0.54. The stock’s 50-day simple moving average is $23.15 and its 200 day simple moving average is $27.22.

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

Institutional Investors Weigh In On Zenas BioPharma

A number of hedge funds and other institutional investors have recently bought and sold shares of ZBIO. Quarry LP raised its position in Zenas BioPharma by 34.5% in the 3rd quarter. Quarry LP now owns 1,134 shares of the company’s stock valued at $25,000 after purchasing an additional 291 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Zenas BioPharma by 4.5% during the fourth quarter. Deutsche Bank AG now owns 12,781 shares of the company’s stock worth $464,000 after purchasing an additional 554 shares during the last quarter. CWM LLC increased its stake in shares of Zenas BioPharma by 48.3% in the fourth quarter. CWM LLC now owns 2,178 shares of the company’s stock valued at $79,000 after buying an additional 709 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Zenas BioPharma by 3.9% in the third quarter. Two Sigma Investments LP now owns 20,382 shares of the company’s stock valued at $452,000 after buying an additional 765 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Zenas BioPharma by 5.8% in the third quarter. Bank of America Corp DE now owns 14,809 shares of the company’s stock valued at $329,000 after buying an additional 818 shares during 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.