Zhengye Biotechnology (NASDAQ:ZYBT) Stock Price Down 4.8% – Here’s What Happened

Shares of Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT) dropped 4.8% on Monday . The stock traded as low as $1.77 and last traded at $1.80. 443,959 shares changed hands during trading, a decline of 97% from the average daily volume of 16,103,109 shares. The stock had previously closed at $1.89.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Zhengye Biotechnology from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Zhengye Biotechnology Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.14 and a quick ratio of 0.82. The business has a 50-day simple moving average of $1.19 and a 200-day simple moving average of $1.01.

Institutional Investors Weigh In On Zhengye Biotechnology

Several institutional investors and hedge funds have recently modified their holdings of ZYBT. Citadel Advisors LLC acquired a new position in Zhengye Biotechnology during the 3rd quarter worth about $31,000. Millennium Management LLC acquired a new position in Zhengye Biotechnology in the 3rd quarter valued at about $38,000. WINTON GROUP Ltd purchased a new stake in Zhengye Biotechnology during the third quarter worth about $56,000. XTX Topco Ltd increased its stake in Zhengye Biotechnology by 71.4% during the fourth quarter. XTX Topco Ltd now owns 59,286 shares of the company’s stock worth $68,000 after purchasing an additional 24,697 shares during the period. Finally, Geode Capital Management LLC acquired a new stake in shares of Zhengye Biotechnology during the second quarter worth about $174,000.

Zhengye Biotechnology Company Profile

Zhengye Biotechnology Holding Limited is a veterinary vaccine manufacturer which encompasses research, development, manufacturing and sales of veterinary vaccines, with a focus on livestock vaccine principally in China. Zhengye Biotechnology Holding Limited is based in Jilin, China.