Zenas BioPharma (NASDAQ:ZBIO) Posts Quarterly Earnings Results, Misses Expectations By $0.37 EPS

Zenas BioPharma (NASDAQ:ZBIO) released its quarterly earnings data on Tuesday. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.37), FiscalAI reports.

Zenas BioPharma Price Performance

Zenas BioPharma stock traded up $0.14 during midday trading on Wednesday, reaching $35.34. The company’s stock had a trading volume of 82,713 shares, compared to its average volume of 241,861. The stock has a market capitalization of $1.49 billion, a P/E ratio of -6.07 and a beta of -1.51. The stock’s 50-day simple moving average is $24.28 and its 200-day simple moving average is $16.61. Zenas BioPharma has a 52-week low of $5.83 and a 52-week high of $36.63.

Analyst Ratings Changes

Several brokerages have recently weighed in on ZBIO. Morgan Stanley upped their price target on shares of Zenas BioPharma from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Jefferies Financial Group reissued a “buy” rating and issued a $52.00 price objective on shares of Zenas BioPharma in a research note on Monday, October 27th. Wall Street Zen raised Zenas BioPharma from a “sell” rating to a “hold” rating in a research report on Saturday. Wedbush reiterated an “outperform” rating and issued a $45.00 price target (up from $40.00) on shares of Zenas BioPharma in a report on Monday, October 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Zenas BioPharma in a research note on Thursday, October 30th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zenas BioPharma has an average rating of “Moderate Buy” and a consensus target price of $44.33.

Insider Activity

In related news, Director Hongbo Lu bought 263,160 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were bought at an average price of $19.00 per share, with a total value of $5,000,040.00. Following the transaction, the director owned 321,983 shares in the company, valued at approximately $6,117,677. This trade represents a 447.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fairmount Funds Management Llc purchased 316,219 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were bought at an average price of $19.00 per share, for a total transaction of $6,008,161.00. Following the purchase, the director directly owned 2,209,025 shares in the company, valued at $41,971,475. This represents a 16.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 923,035 shares of company stock valued at $17,628,163. 16.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zenas BioPharma

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Zenas BioPharma by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock worth $25,813,000 after acquiring an additional 170,546 shares during the period. Bank of America Corp DE raised its stake in shares of Zenas BioPharma by 32.3% in the second quarter. Bank of America Corp DE now owns 13,991 shares of the company’s stock worth $136,000 after purchasing an additional 3,412 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Zenas BioPharma in the second quarter worth about $118,000. Rhumbline Advisers lifted its holdings in shares of Zenas BioPharma by 71.3% during the second quarter. Rhumbline Advisers now owns 19,721 shares of the company’s stock worth $191,000 after purchasing an additional 8,207 shares during the period. Finally, Geode Capital Management LLC boosted its position in Zenas BioPharma by 4.6% in the second quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock valued at $3,621,000 after buying an additional 16,461 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.