Zenas BioPharma (NASDAQ:ZBIO) Shares Down 7% – Should You Sell?

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) dropped 7% during mid-day trading on Wednesday . The stock traded as low as $21.44 and last traded at $20.91. Approximately 74,846 shares were traded during trading, a decline of 92% from the average daily volume of 995,456 shares. The stock had previously closed at $22.48.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ZBIO shares. Guggenheim increased their target price on Zenas BioPharma from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Wall Street Zen downgraded shares of Zenas BioPharma from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 21st. Zacks Research lowered shares of Zenas BioPharma from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 target price on shares of Zenas BioPharma in a research report on Tuesday, January 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Zenas BioPharma in a research note on Monday, December 22nd. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Zenas BioPharma has a consensus rating of “Hold” and an average target price of $44.14.

Zenas BioPharma Stock Down 8.0%

The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -2.65 and a beta of -0.54. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $23.28 and a two-hundred day moving average price of $27.38.

Zenas BioPharma (NASDAQ:ZBIO) last posted its earnings results 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).

Insider Buying and Selling

In other news, Director Hongbo Lu bought 25,985 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average cost of $22.50 per share, for a total transaction of $584,662.50. Following the completion of the purchase, the director owned 347,968 shares of the company’s stock, valued at $7,829,280. This trade represents a 8.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fairmount Funds Management Llc purchased 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $3,000,000.00. Following the purchase, the director directly owned 2,359,025 shares in the company, valued at $47,180,500. This trade represents a 6.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 306,613 shares of company stock worth $5,998,383. Company insiders own 22.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Invesco Ltd. grew its stake in Zenas BioPharma by 28.9% during the 4th quarter. Invesco Ltd. now owns 187,968 shares of the company’s stock valued at $6,825,000 after purchasing an additional 42,172 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Zenas BioPharma in the 4th quarter valued at approximately $442,000. VARCOV Co. purchased a new position in shares of Zenas BioPharma during the 4th quarter valued at approximately $266,000. Voloridge Investment Management LLC purchased a new position in shares of Zenas BioPharma during the 4th quarter valued at approximately $4,845,000. Finally, Virtus Investment Advisers LLC acquired a new stake in shares of Zenas BioPharma during the fourth quarter worth approximately $238,000.

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.