Zura Bio (NASDAQ:ZURA) Issues Earnings Results, Meets Expectations

Zura Bio (NASDAQ:ZURA) released its quarterly earnings data on Tuesday. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20), FiscalAI reports.

Zura Bio Price Performance

ZURA stock traded down $0.26 during midday trading on Thursday, hitting $4.09. The stock had a trading volume of 749,715 shares, compared to its average volume of 1,377,670. The business has a 50-day moving average of $4.74 and a two-hundred day moving average of $5.25. The firm has a market cap of $391.94 million, a price-to-earnings ratio of -3.62 and a beta of 0.01. Zura Bio has a 52-week low of $3.25 and a 52-week high of $7.44.

Hedge Funds Weigh In On Zura Bio

Several large investors have recently modified their holdings of ZURA. Dimensional Fund Advisors LP grew its position in shares of Zura Bio by 83.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 43,135 shares of the company’s stock valued at $257,000 after acquiring an additional 19,603 shares during the period. Bank of America Corp DE raised its holdings in Zura Bio by 3,007.7% during the first quarter. Bank of America Corp DE now owns 136,523 shares of the company’s stock valued at $812,000 after acquiring an additional 132,130 shares during the period. Renaissance Technologies LLC lifted its position in shares of Zura Bio by 3.4% in the first quarter. Renaissance Technologies LLC now owns 313,300 shares of the company’s stock valued at $1,864,000 after acquiring an additional 10,200 shares in the last quarter. ADAR1 Capital Management LLC lifted its position in shares of Zura Bio by 12.2% in the first quarter. ADAR1 Capital Management LLC now owns 630,403 shares of the company’s stock valued at $3,751,000 after acquiring an additional 68,338 shares in the last quarter. Finally, Stempoint Capital LP purchased a new position in shares of Zura Bio in the first quarter valued at about $4,483,000. Hedge funds and other institutional investors own 61.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. William Blair started coverage on shares of Zura Bio in a report on Wednesday, July 8th. They issued an “outperform” rating on the stock. Wall Street Zen upgraded Zura Bio from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Guggenheim increased their price objective on Zura Bio from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Wedbush lifted their target price on shares of Zura Bio from $15.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded Zura Bio from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Zura Bio presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Zura Bio Company Profile

Zura Bio, Ltd. is a clinical-stage biotechnology company focused on developing medicines for immune-mediated diseases. The company’s research and development programs are designed to address conditions in which abnormal immune-system activity contributes to inflammation and tissue damage.

Zura Bio’s lead investigational product, ZT-101, formerly known as ZB-106 or tibulizumab, is a dual-antagonist antibody designed to inhibit signaling associated with interleukin-17A and B-cell activating factor.