Zenas BioPharma (NASDAQ:ZBIO) Shares Down 8.2% – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price fell 8.2% during trading on Wednesday. The company traded as low as $30.42 and last traded at $30.3550. 108,173 shares were traded during trading, a decline of 87% from the average daily volume of 820,216 shares. The stock had previously closed at $33.05.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZBIO. Weiss Ratings cut Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 9th. Guggenheim reaffirmed a “buy” rating and issued a $55.00 target price on shares of Zenas BioPharma in a research note on Friday, August 14th. Morgan Stanley increased their target price on shares of Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Wall Street Zen raised shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Citigroup reiterated a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.71.

Zenas BioPharma Stock Performance

The company has a debt-to-equity ratio of 1.57, a quick ratio of 9.93 and a current ratio of 9.93. The stock has a 50-day moving average of $31.70 and a 200-day moving average of $25.05. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -3.06 and a beta of -1.04.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.77) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.65). The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $15.00 million. As a group, analysts anticipate that Zenas BioPharma, Inc. will post -5.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Zenas BioPharma

A number of institutional investors and hedge funds have recently made changes to their positions in ZBIO. Quantbot Technologies LP acquired a new position in shares of Zenas BioPharma during the 2nd quarter worth about $49,000. ProShare Advisors LLC acquired a new stake in shares of Zenas BioPharma in the fourth quarter valued at approximately $211,000. Jupiter Topco LLC bought a new position in shares of Zenas BioPharma during the 2nd quarter worth approximately $201,000. The Manufacturers Life Insurance Company acquired a new position in shares of Zenas BioPharma during the 2nd quarter worth approximately $204,000. Finally, Sei Investments Co. bought a new stake in Zenas BioPharma in the 1st quarter valued at $242,000.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for patients with immune-mediated diseases. The company’s research and development efforts are centered on therapies that modulate the immune system and address conditions with significant unmet medical needs.

Zenas’ lead investigational product is obexelimab, an immune-modulating monoclonal antibody designed to inhibit the activity of certain B cells without broadly depleting them. The company is evaluating obexelimab in autoimmune and inflammatory diseases, including IgG4-related disease and systemic lupus erythematosus.