Zenas BioPharma (NASDAQ:ZBIO) Stock Price Down 6.1% – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price fell 6.1% on Monday . The stock traded as low as $18.68 and last traded at $18.5950. 284,498 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 808,482 shares. The stock had previously closed at $19.80.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ZBIO. Guggenheim upped their target price on shares of Zenas BioPharma from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zenas BioPharma in a research report on Friday, March 27th. Zacks Research raised shares of Zenas BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Finally, Morgan Stanley boosted their target price on shares of Zenas BioPharma from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.29.

Zenas BioPharma Price Performance

The firm’s fifty day moving average price is $19.44 and its 200 day moving average price is $24.58. The company has a quick ratio of 11.94, a current ratio of 11.94 and a debt-to-equity ratio of 1.04. The stock has a market cap of $1.18 billion, a PE ratio of -2.21 and a beta of -0.71.

Zenas BioPharma (NASDAQ:ZBIO) last released 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 previous year, the company posted ($0.80) earnings per share. As a group, equities analysts expect that Zenas BioPharma, Inc. will post -4.47 EPS for the current fiscal year.

Insider Buying and Selling at Zenas BioPharma

In other news, Director Fairmount Funds Management Llc acquired 150,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were acquired at an average price of $20.00 per share, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director directly owned 2,359,025 shares of the company’s stock, valued at approximately $47,180,500. The trade was a 6.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Leon O. Moulder, Jr. acquired 60,000 shares of the business’s stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $16.88 per share, for a total transaction of $1,012,800.00. Following the transaction, the chief executive officer directly owned 96,928 shares of the company’s stock, valued at approximately $1,636,144.64. The trade was a 162.48% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 273,768 shares of company stock worth $5,150,198 over the last quarter. Insiders own 22.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in shares of Zenas BioPharma by 723.5% in the first quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock worth $7,592,000 after purchasing an additional 341,187 shares during the last quarter. Exome Asset Management LLC bought a new position in shares of Zenas BioPharma in the first quarter worth about $1,578,000. Quantinno Capital Management LP bought a new position in shares of Zenas BioPharma in the first quarter worth about $413,000. Sei Investments Co. bought a new position in shares of Zenas BioPharma in the first quarter worth about $242,000. Finally, Walleye Capital LLC bought a new position in shares of Zenas BioPharma in the first quarter worth about $2,448,000.

About Zenas BioPharma

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.