Zenas BioPharma (NASDAQ:ZBIO) Stock Rating Reaffirmed as Buy by HC Wainwright

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $44.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 59.81% from the stock’s previous close.

Several other analysts also recently weighed in on ZBIO. Guggenheim restated a “buy” rating and issued a $55.00 price objective on shares of Zenas BioPharma in a report on Friday, August 14th. Citigroup restated a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Weiss Ratings downgraded Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Wall Street Zen raised Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Zenas BioPharma in a research report on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Zenas BioPharma currently has an average rating of “Moderate Buy” and a consensus price target of $45.71.

Zenas BioPharma Trading Up 2.9%

ZBIO stock traded up $0.77 during mid-day trading on Wednesday, reaching $27.53. 116,963 shares of the stock traded hands, compared to its average volume of 815,624. The company has a debt-to-equity ratio of 1.57, a quick ratio of 9.93 and a current ratio of 9.93. Zenas BioPharma has a one year low of $13.50 and a one year high of $44.60. The stock has a market capitalization of $1.79 billion, a PE ratio of -3.06 and a beta of -1.04. The business has a 50-day moving average price of $31.47 and a two-hundred day moving average price of $25.08.

Zenas BioPharma (NASDAQ:ZBIO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.65). The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $15.00 million. Equities research analysts expect that Zenas BioPharma will post -5.81 EPS for the current year.

Institutional Trading of Zenas BioPharma

Hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP purchased a new stake in Zenas BioPharma in the 2nd quarter valued at about $329,000. Squarepoint Ops LLC grew its holdings in Zenas BioPharma by 192.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,185 shares of the company’s stock valued at $3,177,000 after buying an additional 82,311 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Zenas BioPharma by 143.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company’s stock valued at $959,000 after buying an additional 22,267 shares during the period. Wellington Management Group LLP grew its holdings in Zenas BioPharma by 27.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock valued at $40,451,000 after buying an additional 347,766 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Zenas BioPharma in the 2nd quarter valued at about $31,247,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for patients with immune-mediated diseases. The company’s research and development efforts are centered on therapies that modulate the immune system and address conditions with significant unmet medical needs.

Zenas’ lead investigational product is obexelimab, an immune-modulating monoclonal antibody designed to inhibit the activity of certain B cells without broadly depleting them. The company is evaluating obexelimab in autoimmune and inflammatory diseases, including IgG4-related disease and systemic lupus erythematosus.