Hongbo Lu Buys 263,160 Shares of Zenas BioPharma (NASDAQ:ZBIO) Stock

Zenas BioPharma, Inc. (NASDAQ:ZBIO) Director Hongbo Lu purchased 263,160 shares of the stock in a transaction on Tuesday, October 7th. The stock was acquired at an average price of $19.00 per share, with a total value of $5,000,040.00. Following the acquisition, the director directly owned 321,983 shares in the company, valued at $6,117,677. This trade represents 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.

Zenas BioPharma Price Performance

NASDAQ ZBIO opened at $26.59 on Friday. The firm has a market capitalization of $1.12 billion and a P/E ratio of -7.49. Zenas BioPharma, Inc. has a 1-year low of $5.83 and a 1-year high of $29.73. The business’s 50-day simple moving average is $18.86 and its 200-day simple moving average is $13.36.

Zenas BioPharma (NASDAQ:ZBIO) last released its quarterly earnings data 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).

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Zenas BioPharma in a research report on Thursday. Wall Street Zen lowered Zenas BioPharma from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zenas BioPharma in a research report on Wednesday. Finally, Wedbush boosted their price target on Zenas BioPharma from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Institutional Investors Weigh In On Zenas BioPharma

A number of institutional investors have recently made changes to their positions in the company. 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 acquiring an additional 703,838 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Zenas BioPharma by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock valued at $3,621,000 after acquiring an additional 16,461 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Zenas BioPharma in the 1st quarter valued at approximately $348,000. Nuveen LLC bought a new stake in shares of Zenas BioPharma in the 1st quarter valued at approximately $250,000. Finally, Rhumbline Advisers grew its stake in Zenas BioPharma by 71.3% during the 2nd quarter. Rhumbline Advisers now owns 19,721 shares of the company’s stock worth $191,000 after buying an additional 8,207 shares during the last quarter.

About Zenas BioPharma

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.