Zenas BioPharma (NASDAQ:ZBIO) Issues Earnings Results

Zenas BioPharma (NASDAQ:ZBIO) released its quarterly earnings data on Wednesday. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.35), FiscalAI reports.

Zenas BioPharma Stock Up 1.7%

Shares of Zenas BioPharma stock opened at $35.80 on Thursday. The firm has a market cap of $1.51 billion, a PE ratio of -6.15 and a beta of -1.51. The business has a 50-day moving average price of $24.66 and a 200 day moving average price of $16.75. Zenas BioPharma has a twelve month low of $5.83 and a twelve month high of $36.63.

Insider Buying and Selling at Zenas BioPharma

In related news, Director Fairmount Funds Management Llc purchased 316,219 shares of Zenas BioPharma stock in a transaction dated Tuesday, October 7th. The shares were acquired at an average price of $19.00 per share, for a total transaction of $6,008,161.00. Following the acquisition, the director directly owned 2,209,025 shares in the company, valued at approximately $41,971,475. The trade was a 16.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Sr One Capital Management, Llc acquired 126,315 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was acquired at an average price of $19.00 per share, for a total transaction of $2,399,985.00. Following the completion of the acquisition, the insider directly owned 1,917,895 shares of the company’s stock, valued at $36,440,005. The trade was a 7.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 923,035 shares of company stock valued at $17,628,163. 16.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Zenas BioPharma by 17.2% during the third quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock worth $25,813,000 after purchasing an additional 170,546 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 16,461 shares in the last quarter. Rhumbline Advisers increased its position in Zenas BioPharma by 71.3% during the 2nd 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. Bank of America Corp DE raised its position in 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 acquiring an additional 3,412 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Zenas BioPharma in the second quarter valued at about $118,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZBIO. Wedbush reissued an “outperform” rating and issued a $45.00 price objective (up from $40.00) on shares of Zenas BioPharma in a research note on Monday, October 27th. Wall Street Zen upgraded shares of Zenas BioPharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Citigroup lifted their price objective on Zenas BioPharma from $27.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Morgan Stanley increased their target price on Zenas BioPharma from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, HC Wainwright increased their target price on shares of Zenas BioPharma from $30.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Zenas BioPharma presently has a consensus rating of “Moderate Buy” and an average price target of $44.33.

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.