Zenas BioPharma, Inc. (NASDAQ:ZBIO – Get Free Report)’s stock price rose 7.9% during mid-day trading on Thursday . The stock traded as high as $23.66 and last traded at $23.5250. Approximately 259,533 shares were traded during trading, a decline of 68% from the average session volume of 807,108 shares. The stock had previously closed at $21.80.
Analysts Set New Price Targets
A number of brokerages have recently commented on ZBIO. Morgan Stanley lifted their price target on Zenas BioPharma from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday, May 14th. HC Wainwright reaffirmed a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Zacks Research raised Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Wall Street Zen upgraded shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Citigroup reiterated a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.29.
View Our Latest Research Report on ZBIO
Zenas BioPharma Stock Performance
Zenas BioPharma (NASDAQ:ZBIO – Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.47) by $0.01. During the same quarter in the prior year, the company earned ($0.80) EPS. On average, equities analysts expect that Zenas BioPharma, Inc. will post -4.47 EPS for the current year.
Insiders Place Their Bets
In other Zenas BioPharma news, Director Fairmount Funds Management Llc acquired 150,000 shares of Zenas BioPharma stock in a transaction that occurred on Tuesday, March 31st. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $3,000,000.00. Following the purchase, the director owned 2,359,025 shares of the company’s stock, valued at approximately $47,180,500. This represents a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hongbo Lu purchased 3,768 shares of Zenas BioPharma stock in a transaction dated Tuesday, March 31st. The stock was bought at an average price of $18.63 per share, with a total value of $70,197.84. Following the completion of the transaction, the director owned 426,736 shares of the company’s stock, valued at $7,950,091.68. This represents a 0.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 273,768 shares of company stock valued at $5,150,198 over the last ninety days. 22.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Zenas BioPharma
Institutional investors have recently added to or reduced their stakes in the business. Polar Capital Holdings Plc purchased a new stake in Zenas BioPharma during the fourth quarter valued at about $38,402,000. Federated Hermes Inc. boosted its holdings in shares of Zenas BioPharma by 45.9% in the 4th quarter. Federated Hermes Inc. now owns 2,715,578 shares of the company’s stock worth $98,603,000 after purchasing an additional 853,740 shares in the last quarter. EcoR1 Capital LLC purchased a new position in shares of Zenas BioPharma in the 4th quarter worth about $28,667,000. NEA Management Company LLC increased its position in shares of Zenas BioPharma by 28.9% during the 4th quarter. NEA Management Company LLC now owns 3,523,219 shares of the company’s stock valued at $127,928,000 after purchasing an additional 789,500 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Zenas BioPharma by 723.5% during the 1st quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock valued at $7,592,000 after purchasing an additional 341,187 shares during the last quarter.
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.
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