Zenas BioPharma (NASDAQ:ZBIO) Shares Up 7.7% – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price was up 7.7% on Monday . The company traded as high as $33.30 and last traded at $32.7450. Approximately 258,950 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 856,417 shares. The stock had previously closed at $30.39.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ZBIO shares. Citigroup reissued a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Zacks Research raised Zenas BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Morgan Stanley upped their price target on Zenas BioPharma from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, HC Wainwright restated a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.29.

Zenas BioPharma Price Performance

The company has a market cap of $2.04 billion, a price-to-earnings ratio of -3.81 and a beta of -0.96. The company has a current ratio of 11.94, a quick ratio of 11.94 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average price of $22.97 and a two-hundred day moving average price of $22.11.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $0.01. During the same quarter in the prior year, the business posted ($0.80) earnings per share. As a group, equities research analysts anticipate that Zenas BioPharma, Inc. will post -4.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zenas BioPharma news, CEO Leon O. Moulder, Jr. bought 60,000 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average price of $16.88 per share, with a total value of $1,012,800.00. Following the completion of the purchase, the chief executive officer directly owned 96,928 shares in the company, valued at $1,636,144.64. The trade was a 162.48% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought a total of 120,000 shares of company stock valued at $2,080,000 over the last quarter. Insiders own 22.00% of the company’s stock.

Institutional Investors Weigh In On Zenas BioPharma

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Zenas BioPharma by 723.5% during the 1st quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock worth $7,592,000 after buying an additional 341,187 shares during the period. Exome Asset Management LLC bought a new stake in Zenas BioPharma in the first quarter valued at $1,578,000. Quantinno Capital Management LP acquired a new position in Zenas BioPharma during the first quarter worth $413,000. Sei Investments Co. acquired a new position in Zenas BioPharma during the first quarter worth $242,000. Finally, Walleye Capital LLC bought a new position in shares of Zenas BioPharma during the first quarter valued at $2,448,000.

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.