Zenas BioPharma (NASDAQ:ZBIO) Stock Price Up 7.2% – Time to Buy?

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares shot up 7.2% on Friday . The stock traded as high as $29.91 and last traded at $30.2650. Approximately 248,670 shares changed hands during trading, a decline of 71% from the average session volume of 854,336 shares. The stock had previously closed at $28.24.

Analyst Ratings Changes

ZBIO has been the subject of a number of analyst reports. Zacks Research upgraded shares of Zenas BioPharma from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. HC Wainwright reaffirmed a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. 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. Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Finally, Citigroup reissued a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.29.

Zenas BioPharma Price Performance

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 business’s 50-day moving average is $21.59 and its two-hundred day moving average is $22.21. The company has a market capitalization of $1.89 billion, a P/E ratio of -3.54 and a beta of -0.96.

Zenas BioPharma (NASDAQ:ZBIO) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($1.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.01. During the same quarter in the prior year, the company earned ($0.80) earnings per share. As a group, analysts predict that Zenas BioPharma, Inc. will post -4.47 earnings per share for the current year.

Insider Activity

In other Zenas BioPharma news, CEO Leon O. Moulder, Jr. purchased 60,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average cost of $16.88 per share, with a total value of $1,012,800.00. Following the completion of the transaction, the chief executive officer owned 96,928 shares of the company’s stock, valued at $1,636,144.64. The trade was a 162.48% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 120,000 shares of company stock valued at $2,080,000 over the last three months. Corporate insiders own 22.00% of the company’s stock.

Institutional Investors Weigh In On Zenas BioPharma

A number of hedge funds have recently made changes to their positions in ZBIO. Geode Capital Management LLC boosted its holdings in shares of Zenas BioPharma by 4.6% in 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. Rhumbline Advisers boosted its stake in Zenas BioPharma by 71.3% in the second quarter. Rhumbline Advisers now owns 19,721 shares of the company’s stock valued at $191,000 after acquiring an additional 8,207 shares during the last quarter. Sei Investments Co. bought a new position in shares of Zenas BioPharma during the 2nd quarter valued at approximately $118,000. Bank of America Corp DE raised its holdings in shares of Zenas BioPharma by 32.3% in the 2nd 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 period. Finally, Vanguard Group Inc. lifted 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 valued at $25,813,000 after purchasing an additional 170,546 shares during the last quarter.

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.