Zenas BioPharma’s (ZBIO) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Zenas BioPharma (NASDAQ:ZBIO) in a research note published on Wednesday, MarketBeat reports. HC Wainwright currently has a $44.00 price objective on the stock.

A number of other research firms also recently issued reports on ZBIO. Weiss Ratings downgraded Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Wall Street Zen upgraded shares of Zenas BioPharma from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Zenas BioPharma in a report on Friday, August 14th. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Finally, Morgan Stanley increased their price target on shares of Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Zenas BioPharma Stock Up 1.3%

ZBIO stock opened at $28.30 on Wednesday. Zenas BioPharma has a fifty-two week low of $13.50 and a fifty-two week high of $44.60. The business’s 50 day moving average price is $31.28 and its two-hundred day moving average price is $25.15. 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 market capitalization of $1.84 billion, a price-to-earnings ratio of -3.15 and a beta of -0.89.

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

Institutional Inflows and Outflows

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