Zenas BioPharma (NASDAQ:ZBIO) Shares Up 8.9% – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s stock price shot up 8.9% on Tuesday . The stock traded as high as $20.08 and last traded at $19.76. 203,275 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,248,051 shares. The stock had previously closed at $18.15.

Analysts Set New Price Targets

A number of equities research analysts have commented on ZBIO shares. HC Wainwright reissued a “buy” rating on shares of Zenas BioPharma in a research report on Tuesday, December 16th. Citigroup increased their target price on Zenas BioPharma from $27.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Zenas BioPharma in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zenas BioPharma in a research report on Monday, December 29th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $48.00 target price on shares of Zenas BioPharma in a research report on Tuesday, January 6th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Zenas BioPharma currently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

Zenas BioPharma Trading Up 8.7%

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 stock has a market capitalization of $1.06 billion, a PE ratio of -2.79 and a beta of -1.47. The business’s 50-day moving average is $30.41 and its two-hundred day moving average is $25.26.

Zenas BioPharma (NASDAQ:ZBIO) last posted 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 Buying and Selling

In other news, CEO Leon O. Moulder, Jr. acquired 50,000 shares of Zenas BioPharma stock in a transaction on Wednesday, January 7th. The stock was bought at an average price of $16.38 per share, for a total transaction of $819,000.00. Following the completion of the purchase, the chief executive officer owned 316,155 shares in the company, valued at $5,178,618.90. This represents a 18.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 100,000 shares of company stock worth $1,639,000 over the last quarter. Insiders own 16.50% of the company’s stock.

Hedge Funds Weigh In On Zenas BioPharma

A number of hedge funds have recently modified their holdings of the business. 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. Russell Investments Group Ltd. purchased a new position in Zenas BioPharma during the 3rd quarter worth $30,000. GF Fund Management CO. LTD. acquired a new position in Zenas BioPharma in the fourth quarter valued at $38,000. BNP Paribas Financial Markets raised its holdings in shares of Zenas BioPharma by 120.0% in the third quarter. BNP Paribas Financial Markets now owns 3,146 shares of the company’s stock valued at $70,000 after buying an additional 1,716 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Zenas BioPharma by 48.3% during the fourth quarter. CWM LLC now owns 2,178 shares of the company’s stock worth $79,000 after buying an additional 709 shares during the period.

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.