BlackRock Inc. Acquires New Shares in Zenas BioPharma, Inc. $ZBIO

Key Points

• BlackRock acquired 2.69 million Zenas BioPharma shares in the second quarter, valued at approximately $68.2 million and representing about 4.26% of the company.
• Analyst sentiment is generally positive, with six Buy ratings, two Holds and one Sell; the stock has a consensus “Moderate Buy” rating and a $45.71 price target.
• Zenas BioPharma reported a quarterly loss of $1.77 per share, missing the $1.12 consensus estimate, while revenue of $1 million fell well short of the expected $15 million.

BlackRock Inc. bought a new position in Zenas BioPharma, Inc. (NASDAQ:ZBIO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,686,225 shares of the company's stock, valued at approximately $68,176,000. BlackRock Inc. owned about 4.26% of Zenas BioPharma at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP grew its holdings in shares of Zenas BioPharma by 34.5% during the third quarter. Quarry LP now owns 1,134 shares of the company's stock worth $25,000 after purchasing an additional 291 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Zenas BioPharma during the 3rd quarter worth approximately $30,000. BNP Paribas Financial Markets increased its position in Zenas BioPharma by 120.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,146 shares of the company's stock valued at $70,000 after acquiring an additional 1,716 shares during the period. CWM LLC increased its position in Zenas BioPharma by 48.3% in the 4th quarter. CWM LLC now owns 2,178 shares of the company's stock valued at $79,000 after acquiring an additional 709 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Zenas BioPharma during the second quarter valued at $118,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ZBIO. Wall Street Zen upgraded Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Citigroup restated a "buy" rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Weiss Ratings lowered shares of Zenas BioPharma from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, July 9th. Zacks Research upgraded shares of Zenas BioPharma from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Finally, Morgan Stanley lifted their target price 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 research 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. Based on data from MarketBeat, Zenas BioPharma currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.71.

Zenas BioPharma Price Performance

Zenas BioPharma stock opened at $31.27 on Monday. Zenas BioPharma, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $44.60. The stock has a market cap of $2.04 billion, a PE ratio of -3.48 and a beta of -1.03. The firm's 50-day simple moving average is $29.62 and its 200 day simple moving average is $24.22. The company has a debt-to-equity ratio of 1.57, a quick ratio of 9.93 and a current ratio of 9.93.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last posted 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 business had revenue of $1.00 million for the quarter, compared to analysts' expectations of $15.00 million. Research analysts predict that Zenas BioPharma, Inc. will post -5.81 EPS for the current fiscal 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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