Zenas BioPharma (NASDAQ:ZBIO) Stock Price Up 11% – What’s Next?

Zenas BioPharma, Inc. (NASDAQ:ZBIO) rose 11% during mid-day trading on Wednesday . The company traded as high as $16.91 and last traded at $16.87. Approximately 631,144 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 2,923,622 shares. The stock had previously closed at $15.20.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ZBIO. Morgan Stanley cut Zenas BioPharma from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $37.00 to $19.00 in a report on Monday. Citigroup increased their target price on Zenas BioPharma from $27.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Wall Street Zen raised Zenas BioPharma from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Evercore ISI initiated coverage on shares of Zenas BioPharma in a report on Wednesday, November 26th. They set an “outperform” rating and a $55.00 price objective for the company. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $48.00 price objective on shares of Zenas BioPharma in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.14.

Zenas BioPharma Price Performance

The firm has a market cap of $880.87 million, a PE ratio of -2.32 and a beta of -1.45. The firm has a fifty day simple moving average of $35.25 and a two-hundred day simple moving average of $23.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.66 and a current ratio of 5.66.

Zenas BioPharma (NASDAQ:ZBIO) last posted its earnings results on Wednesday, November 12th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.35).

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZBIO. Federated Hermes Inc. raised its position in Zenas BioPharma by 60.8% during the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock valued at $18,041,000 after purchasing an additional 703,838 shares during the period. Vanguard Group Inc. raised its holdings in Zenas BioPharma by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock valued at $25,813,000 after buying an additional 170,546 shares during the period. Invesco Ltd. purchased a new stake in Zenas BioPharma during the 3rd quarter valued at $3,237,000. Millennium Management LLC bought a new stake in Zenas BioPharma in the third quarter worth $1,595,000. Finally, Geode Capital Management LLC boosted its stake in Zenas BioPharma by 4.6% during the second quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock worth $3,621,000 after buying an additional 16,461 shares during the period.

Zenas BioPharma Company Profile

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.