Zenas BioPharma (NASDAQ:ZBIO) Trading Down 6.4% – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s stock price was down 6.4% during mid-day trading on Monday . The company traded as low as $39.68 and last traded at $39.77. Approximately 51,600 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 255,240 shares. The stock had previously closed at $42.49.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Zenas BioPharma in a research report on Monday, December 22nd. Morgan Stanley boosted their target price on Zenas BioPharma from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Jefferies Financial Group reiterated a “buy” rating and set a $52.00 price target on shares of Zenas BioPharma in a report on Monday, October 27th. Evercore ISI assumed coverage on shares of Zenas BioPharma in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, Citigroup upped their price objective on shares of Zenas BioPharma from $27.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Zenas BioPharma has a consensus rating of “Moderate Buy” and an average target price of $46.29.

Zenas BioPharma Stock Performance

The firm’s fifty day moving average price is $35.67 and its 200-day moving average price is $23.43. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.91 billion, a P/E ratio of -5.03 and a beta of -1.62.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Wednesday, November 12th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.35).

Insider Activity at Zenas BioPharma

In other news, major shareholder Sr One Capital Management, Llc acquired 126,315 shares of the stock in a transaction dated Thursday, October 9th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $2,399,985.00. Following the completion of the transaction, the insider owned 1,917,895 shares in the company, valued at approximately $36,440,005. This trade represents a 7.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Leon O. Moulder, Jr. bought 36,928 shares of Zenas BioPharma stock in a transaction that occurred on Tuesday, October 7th. The stock was purchased at an average cost of $20.85 per share, with a total value of $769,948.80. Following the completion of the transaction, the insider owned 36,928 shares of the company’s stock, valued at $769,948.80. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 923,035 shares of company stock worth $17,628,163 in the last three months. Company insiders own 16.50% of the company’s stock.

Institutional Trading of Zenas BioPharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. lifted its stake in Zenas BioPharma by 60.8% during the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock worth $18,041,000 after purchasing an additional 703,838 shares during the period. Vanguard Group Inc. lifted its position in shares of Zenas BioPharma by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock worth $25,813,000 after buying an additional 170,546 shares during the period. Invesco Ltd. acquired a new stake in Zenas BioPharma in the 3rd quarter valued at $3,237,000. Millennium Management LLC acquired a new stake in Zenas BioPharma in the 3rd quarter valued at $1,595,000. Finally, Nuveen LLC bought a new stake in Zenas BioPharma in the first quarter valued at $250,000.

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.