Zhengye Biotechnology (NASDAQ:ZYBT) Shares Down 5.8% – Here’s Why

Zhengye Biotechnology Holding Limited (NASDAQ:ZYBTGet Free Report)’s share price fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $0.7102 and last traded at $0.72. 12,631 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 10,898 shares. The stock had previously closed at $0.7647.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zhengye Biotechnology in a research report on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

View Our Latest Stock Analysis on ZYBT

Zhengye Biotechnology Price Performance

The company’s 50 day moving average is $0.93 and its two-hundred day moving average is $2.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.49 and a quick ratio of 1.10.

Institutional Trading of Zhengye Biotechnology

Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC bought a new stake in shares of Zhengye Biotechnology during the third quarter valued at approximately $31,000. Millennium Management LLC bought a new position in Zhengye Biotechnology in the third quarter worth $38,000. WINTON GROUP Ltd acquired a new stake in Zhengye Biotechnology during the third quarter worth $56,000. XTX Topco Ltd boosted 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 buying an additional 24,697 shares in the last quarter. Finally, Geode Capital Management LLC bought a new stake in Zhengye Biotechnology in the 2nd quarter valued at $174,000.

About Zhengye Biotechnology

(Get Free Report)

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.

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