Bank of America Corp DE Acquires New Holdings in Zenas BioPharma, Inc. $ZBIO

Key Points

• Bank of America acquired 1.23 million Zenas BioPharma shares in the second quarter, valued at approximately $31.2 million and representing a 1.89% stake.
• Several other institutional investors, including BlackRock, Polar Capital, and EcoR1 Capital, also initiated positions. Analysts maintain a “Moderate Buy” consensus with an average price target of $45.71.
• ZBIO opened at $33.05 but recently reported a quarterly loss of $1.77 per share and revenue of $1 million, both worse than analyst expectations.

Bank of America Corp DE acquired a new position in Zenas BioPharma, Inc. (NASDAQ:ZBIO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,231,159 shares of the company's stock, valued at approximately $31,247,000. Bank of America Corp DE owned 1.89% of Zenas BioPharma as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Zenas BioPharma in the second quarter valued at approximately $68,176,000. Polar Capital Holdings Plc bought a new stake in Zenas BioPharma during the fourth quarter worth approximately $38,402,000. EcoR1 Capital LLC bought a new stake in Zenas BioPharma during the fourth quarter worth approximately $28,667,000. NEXTBio Capital Management LP acquired a new stake in Zenas BioPharma in the fourth quarter worth approximately $11,691,000. Finally, Walleye Capital LLC acquired a new stake in Zenas BioPharma in the second quarter worth approximately $5,306,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZBIO. Morgan Stanley lifted their price target on Zenas BioPharma from $22.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, August 14th. Weiss Ratings lowered Zenas BioPharma from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, July 9th. HC Wainwright reaffirmed a "buy" rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Citigroup reaffirmed a "buy" rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Finally, Guggenheim reiterated a "buy" rating and issued a $55.00 price target on shares of Zenas BioPharma in a research report on Friday, August 14th. 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's stock. According to MarketBeat, Zenas BioPharma has an average rating of "Moderate Buy" and an average price target of $45.71.

Zenas BioPharma Stock Performance

Shares of ZBIO opened at $33.05 on Wednesday. The company has a 50-day moving average of $31.71 and a two-hundred day moving average of $25.01. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -3.68 and a beta of -1.04. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93. Zenas BioPharma, Inc. has a one year low of $13.50 and a one year high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last issued its quarterly 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. On average, equities research analysts expect that Zenas BioPharma, Inc. will post -5.81 earnings per share for the current year.

Zenas BioPharma Company Profile

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.

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