Zenas BioPharma (NASDAQ:ZBIO) Shares Gap Down – Here’s Why

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) gapped down before the market opened on Monday . The stock had previously closed at $34.50, but opened at $16.77. Zenas BioPharma shares last traded at $15.61, with a volume of 2,301,078 shares.

Analysts Set New Price Targets

ZBIO has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and set a $52.00 price target on shares of Zenas BioPharma in a research report on Monday, October 27th. Citigroup raised their price target on Zenas BioPharma from $27.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Zenas BioPharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Evercore ISI started coverage on shares of Zenas BioPharma in a research report on Wednesday, November 26th. They set an “outperform” rating and a $55.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of Zenas BioPharma from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.29.

Zenas BioPharma Trading Down 57.5%

The firm’s 50 day simple moving average is $36.35 and its 200-day simple moving average is $23.98. The company has a market capitalization of $787.49 million, a PE ratio of -2.07 and a beta of -1.45. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.37.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.35).

Insider Activity at Zenas BioPharma

In other news, insider Leon O. Moulder, Jr. bought 36,928 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was acquired at an average cost of $20.85 per share, for a total transaction of $769,948.80. Following the completion of the purchase, the insider owned 36,928 shares of the company’s stock, valued at $769,948.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patrick G. Enright acquired 105,265 shares of the firm’s stock in a transaction on Thursday, October 9th. The stock was purchased at an average cost of $19.00 per share, with a total value of $2,000,035.00. Following the completion of the transaction, the director owned 1,832,669 shares in the company, valued at $34,820,711. The trade was a 6.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 923,035 shares of company stock valued at $17,628,163. 16.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Zenas BioPharma

A number of hedge funds have recently made changes to their positions in ZBIO. Federated Hermes Inc. boosted its stake in Zenas BioPharma by 60.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock valued at $18,041,000 after acquiring an additional 703,838 shares during the last quarter. Vanguard Group Inc. grew its stake in Zenas BioPharma by 17.2% in 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. Invesco Ltd. acquired a new stake in Zenas BioPharma during the third quarter valued at approximately $3,237,000. Millennium Management LLC acquired a new stake in Zenas BioPharma during the third quarter valued at approximately $1,595,000. Finally, Geode Capital Management LLC lifted its holdings in Zenas BioPharma by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock worth $3,621,000 after buying an additional 16,461 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.