BlackRock Inc. Invests $18.20 Million in Zentalis Pharmaceuticals, Inc. $ZNTL

Key Points

• BlackRock acquired 3.75 million shares of Zentalis Pharmaceuticals during the second quarter, investing approximately $18.2 million for a 5.27% stake.
• Major shareholder Group Walters bought an additional 4.335 million shares for about $15.2 million, increasing its ownership by 32.09%. Other institutional investors, including Vanguard and Invesco, also added to their positions.
• Zentalis reported a quarterly loss of $0.59 per share, worse than the $0.49 analyst estimate. Despite mixed ratings and a current “Hold” consensus, analysts’ average price target is $6.75 versus a recent share price of $4.11.

BlackRock Inc. acquired a new position in Zentalis Pharmaceuticals, Inc. (NASDAQ:ZNTL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,753,525 shares of the company's stock, valued at approximately $18,205,000. BlackRock Inc. owned approximately 5.27% of Zentalis Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. CTC Alternative Strategies Ltd. bought a new position in Zentalis Pharmaceuticals in the 1st quarter worth about $29,000. Invesco Ltd. boosted its position in shares of Zentalis Pharmaceuticals by 8.6% during the 4th quarter. Invesco Ltd. now owns 188,582 shares of the company's stock valued at $255,000 after acquiring an additional 14,961 shares during the last quarter. Barr E S & Co. increased its position in shares of Zentalis Pharmaceuticals by 43.8% in the fourth quarter. Barr E S & Co. now owns 57,500 shares of the company's stock worth $78,000 after purchasing an additional 17,500 shares during the last quarter. State of Wyoming purchased a new stake in Zentalis Pharmaceuticals in the second quarter valued at approximately $91,000. Finally, Vanguard Group Inc. lifted its position in Zentalis Pharmaceuticals by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,904,400 shares of the company's stock valued at $4,386,000 after purchasing an additional 19,768 shares during the last quarter.

Insider Buying and Selling

In related news, major shareholder Group Walters bought 4,335,000 shares of the firm's stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $3.50 per share, for a total transaction of $15,172,500.00. Following the purchase, the insider owned 17,844,973 shares in the company, valued at approximately $62,457,405.50. This represents a 32.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.80% of the company's stock.

Zentalis Pharmaceuticals Price Performance

Shares of NASDAQ:ZNTL opened at $4.11 on Friday. The company has a market cap of $294.56 million, a P/E ratio of -2.11 and a beta of 1.85. The stock's fifty day moving average price is $4.37 and its 200-day moving average price is $3.77. Zentalis Pharmaceuticals, Inc. has a 1 year low of $1.21 and a 1 year high of $6.95.

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.10). On average, sell-side analysts anticipate that Zentalis Pharmaceuticals, Inc. will post -2.14 earnings per share for the current year.

Analysts Set New Price Targets

ZNTL has been the topic of several research reports. HC Wainwright restated a "buy" rating and set a $10.00 price objective on shares of Zentalis Pharmaceuticals in a research report on Friday, May 22nd. Rodman & Renshaw initiated coverage on Zentalis Pharmaceuticals in a research note on Thursday, July 23rd. They set a "buy" rating and a $11.00 price target for the company. Mizuho initiated coverage on Zentalis Pharmaceuticals in a report on Friday, July 17th. They issued an "outperform" rating and a $8.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zentalis Pharmaceuticals in a research report on Monday, July 6th. Finally, Wall Street Zen cut shares of Zentalis Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Zentalis Pharmaceuticals presently has an average rating of "Hold" and an average price target of $6.75.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics for oncology. Leveraging a proprietary structure-based drug discovery platform, the company designs selective inhibitors aimed at critical cancer targets. Zentalis' research and development efforts center on delivering differentiated therapies that address unmet medical needs in solid tumors and hematologic malignancies.

The company's lead product candidate, ZN-c3, is an orally administered inhibitor of the p53-MDM2 interaction, currently being evaluated in Phase I clinical trials for advanced solid tumors and hematologic cancers.

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