Zenas BioPharma (NASDAQ:ZBIO) Stock Keeps “Outperform” Rating at Wedbush

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $45.00 price target on the stock. Wedbush’s price objective indicates a potential upside of 66.85% from the stock’s current price.

Several other research firms have also recently weighed in on ZBIO. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Morgan Stanley boosted their target price on Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Wall Street Zen raised Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Guggenheim reiterated a “buy” rating and set a $55.00 price target on shares of Zenas BioPharma in a research report on Wednesday. Finally, Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Zenas BioPharma Stock Performance

Shares of ZBIO stock traded up $0.21 during trading on Wednesday, reaching $26.97. 621,229 shares of the company’s stock traded hands, compared to its average volume of 816,963. Zenas BioPharma has a 1 year low of $13.50 and a 1 year high of $44.60. The firm’s 50-day moving average is $31.47 and its 200 day moving average is $25.08. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $1.76 billion, a P/E ratio of -3.00 and a beta of -1.04.

Zenas BioPharma (NASDAQ:ZBIO) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $15.00 million. Equities research analysts expect that Zenas BioPharma will post -5.81 EPS for the current year.

Hedge Funds Weigh In On Zenas BioPharma

A number of institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of Zenas BioPharma in the 2nd quarter worth $49,000. ProShare Advisors LLC bought a new position in shares of Zenas BioPharma in the 4th quarter worth $211,000. Jupiter Topco LLC bought a new position in shares of Zenas BioPharma in the 2nd quarter worth $201,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Zenas BioPharma in the 2nd quarter valued at $204,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Zenas BioPharma by 17.5% in the 1st quarter. Bank of New York Mellon Corp now owns 60,864 shares of the company’s stock valued at $1,190,000 after purchasing an additional 9,062 shares in the last quarter.

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.