Zenas BioPharma (NASDAQ:ZBIO) Given Buy Rating at HC Wainwright

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $44.00 target price on the stock. HC Wainwright's target price suggests a potential upside of 57.42% from the stock's current price.

ZBIO has been the subject of several other research reports. Wedbush reiterated an "outperform" rating and issued a $45.00 price objective on shares of Zenas BioPharma in a research note on Friday, August 14th. Citigroup restated a "buy" rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Morgan Stanley boosted their target price on shares of Zenas BioPharma from $22.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, August 14th. Guggenheim restated a "buy" rating and issued a $55.00 target price on shares of Zenas BioPharma in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.71.

Zenas BioPharma Stock Performance

Shares of ZBIO stock traded down $0.35 during midday trading on Wednesday, hitting $27.95. 888,495 shares of the company were exchanged, compared to its average volume of 822,989. The firm has a market capitalization of $1.82 billion, a P/E ratio of -3.11 and a beta of -0.90. 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 firm's 50 day moving average price is $31.28 and its two-hundred day moving average price is $25.16. Zenas BioPharma has a 52 week low of $13.50 and a 52 week high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last announced its earnings results 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 analyst estimates of $15.00 million. As a group, equities research analysts anticipate that Zenas BioPharma will post -5.81 earnings per share for the current year.

Institutional Investors Weigh In On Zenas BioPharma

Large investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP bought a new position in shares of Zenas BioPharma during the second quarter valued at about $329,000. Squarepoint Ops LLC lifted its position in shares of Zenas BioPharma by 192.0% during the second 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Zenas BioPharma by 143.4% during the second 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 in the last quarter. Wellington Management Group LLP lifted its position in shares of Zenas BioPharma by 27.9% during the second 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 position in shares of Zenas BioPharma during the second quarter valued at about $31,247,000.

Zenas BioPharma Company Profile

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.