Fairmount Funds Management Llc Acquires 316,219 Shares of Zenas BioPharma (NASDAQ:ZBIO) Stock

Key Points

• Fairmount Funds Management LLC acquired 316,219 shares of Zenas BioPharma at $19.00 per share, totaling over $6 million, increasing their ownership by 16.71% to approximately 2.2 million shares.
• Zenas BioPharma's stock price rose by 7.2% to $27.76 following the director's acquisition, significantly outpacing its 50-day average of $18.40.
• Brokerages have mixed ratings on the stock, with Wedbush upgrading its price target from $35 to $40, while Wall Street Zen downgraded it from "hold" to "sell."

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) Director Fairmount Funds Management Llc bought 316,219 shares of the business's stock in a transaction that occurred on Tuesday, October 7th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $6,008,161.00. Following the completion of the purchase, the director owned 2,209,025 shares in the company, valued at $41,971,475. This trade represents a 16.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Zenas BioPharma Stock Up 7.2%

ZBIO stock traded up $1.86 during midday trading on Thursday, hitting $27.76. The company's stock had a trading volume of 830,731 shares, compared to its average volume of 203,089. The firm has a 50-day simple moving average of $18.40 and a 200-day simple moving average of $13.11. The firm has a market capitalization of $1.17 billion and a P/E ratio of -7.82. Zenas BioPharma, Inc. has a 52-week low of $5.83 and a 52-week high of $28.72.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.23).

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ZBIO. Wall Street Zen downgraded Zenas BioPharma from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zenas BioPharma in a research note on Wednesday. Wedbush increased their price objective on shares of Zenas BioPharma from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, HC Wainwright restated a "buy" rating and issued a $30.00 price objective on shares of Zenas BioPharma in a report on Thursday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.33.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ZBIO. Federated Hermes Inc. boosted its stake in Zenas BioPharma by 60.8% in the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company's stock valued at $18,041,000 after acquiring an additional 703,838 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Zenas BioPharma in the 1st quarter valued at about $348,000. Nuveen LLC purchased a new stake in shares of Zenas BioPharma in the 1st quarter valued at about $250,000. Geode Capital Management LLC boosted its position in shares of Zenas BioPharma by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company's stock valued at $3,621,000 after purchasing an additional 16,461 shares during the period. Finally, Sei Investments Co. purchased a new position in Zenas BioPharma during the 2nd quarter worth approximately $118,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage global biopharmaceutical company, which engages in the development and commercialization of transformative immunology-based therapies for patients. The company was founded by Lonnie O. Moulder Jr on November 12, 2019 and is headquartered in Waltham, MA.

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