Zenas BioPharma (NASDAQ:ZBIO) Stock Jumps 3.3% – Here’s What Happened

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s stock price rose 3.3% on Wednesday. The stock traded as high as $27.82 and last traded at $27.8280. 15,829 shares were traded during trading, a decline of 98% from the average session volume of 817,610 shares. The stock had previously closed at $26.94.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZBIO. Citigroup raised their price objective on shares of Zenas BioPharma from $41.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. Weiss Ratings cut Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 9th. Morgan Stanley upped their price objective on Zenas BioPharma from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. HC Wainwright reissued a “buy” rating and issued a $44.00 target price on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Finally, Wedbush restated an “outperform” rating and set a $45.00 price objective on shares of Zenas BioPharma in a report on Wednesday, September 30th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Zenas BioPharma presently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Zenas BioPharma Price 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 company has a 50-day simple moving average of $31.07 and a two-hundred day simple moving average of $25.22. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -3.16 and a beta of -0.90.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new position in Zenas BioPharma in the 2nd quarter valued at approximately $329,000. Squarepoint Ops LLC grew its stake in Zenas BioPharma by 192.0% in the second quarter. Squarepoint Ops LLC now owns 125,185 shares of the company’s stock valued at $3,177,000 after acquiring an additional 82,311 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Zenas BioPharma by 143.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company’s stock worth $959,000 after acquiring an additional 22,267 shares in the last quarter. Wellington Management Group LLP raised its position in Zenas BioPharma by 27.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock valued at $40,451,000 after buying an additional 347,766 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Zenas BioPharma during the second quarter worth about $31,247,000.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for patients with serious autoimmune diseases. The company’s research is centered on medicines designed to modulate the immune system while potentially avoiding the broad immune-cell depletion associated with some existing treatments.

Zenas’ lead product candidate is obexelimab, an investigational monoclonal antibody designed to bind CD19 and FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.