Bank of New York Mellon Corp Invests $1.79 Million in Zenas BioPharma, Inc. $ZBIO

Key Points

• Bank of New York Mellon initiated a $1.79 million position in Zenas BioPharma during the second quarter, acquiring 70,477 shares and owning approximately 0.11% of the company.
• Institutional interest increased, with Geode, Rhumbline Advisers, Bank of America, and Vanguard expanding their holdings. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $45.71.
• ZBIO shares opened at $33.05, while the company reported a larger-than-expected quarterly loss of $1.77 per share and revenue of $1 million, well below the $15 million analyst estimate.

Bank of New York Mellon Corp bought a new position in Zenas BioPharma, Inc. (NASDAQ:ZBIO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 70,477 shares of the company's stock, valued at approximately $1,789,000. Bank of New York Mellon Corp owned 0.11% of Zenas BioPharma as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Zenas BioPharma by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company's stock worth $3,621,000 after acquiring an additional 16,461 shares during the period. Rhumbline Advisers increased its holdings in shares of Zenas BioPharma by 71.3% in the second quarter. Rhumbline Advisers now owns 19,721 shares of the company's stock worth $191,000 after purchasing an additional 8,207 shares during the period. Sei Investments Co. purchased a new stake in shares of Zenas BioPharma in the second quarter worth $118,000. Bank of America Corp DE raised its position in shares of Zenas BioPharma by 32.3% in the second quarter. Bank of America Corp DE now owns 13,991 shares of the company's stock worth $136,000 after buying an additional 3,412 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Zenas BioPharma by 17.2% during the third 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wedbush reaffirmed an "outperform" rating and issued a $45.00 target price on shares of Zenas BioPharma in a research note on Friday, August 14th. Citigroup reaffirmed a "buy" rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Zacks Research upgraded Zenas BioPharma from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Guggenheim reissued a "buy" rating and set a $55.00 price objective on shares of Zenas BioPharma in a report on Friday, August 14th. Finally, Weiss Ratings downgraded Zenas BioPharma from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, July 9th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.71.

Zenas BioPharma Stock Up 0.5%

Shares of NASDAQ ZBIO opened at $33.05 on Wednesday. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 1.57. Zenas BioPharma, Inc. has a 52 week low of $13.50 and a 52 week high of $44.60. The firm's fifty day moving average is $30.91 and its 200 day moving average is $24.59. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -3.68 and a beta of -1.04.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.65). The business 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 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.

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