Candriam S.C.A. Makes New $17.73 Million Investment in Zenas BioPharma, Inc. $ZBIO

Key Points

• Candriam S.C.A. initiated a $17.73 million position in Zenas BioPharma, buying 654,833 shares—about 1% of the company.
• Analyst sentiment is a Moderate Buy: six analysts rate ZBIO Buy, two Hold and one Sell, with a consensus price target of $46.71.
• Zenas reported a quarterly loss of $1.65 per share, missing the $1.24 loss estimate; revenue of $10 million matched expectations.

Candriam S.C.A. purchased a new position in Zenas BioPharma, Inc. (NASDAQ:ZBIO - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 654,833 shares of the company's stock, valued at approximately $17,725,000. Candriam S.C.A. owned about 1.00% of Zenas BioPharma at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Zenas BioPharma by 143.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company's stock valued at $959,000 after acquiring an additional 22,267 shares during the period. Walleye Capital LLC acquired a new position in Zenas BioPharma in the 2nd quarter valued at approximately $5,306,000. Bank of America Corp DE lifted its position in shares of Zenas BioPharma by 723.5% in the 1st quarter. Bank of America Corp DE now owns 388,347 shares of the company's stock worth $7,592,000 after acquiring an additional 341,187 shares during the period. J. Goldman & Co LP bought a new stake in shares of Zenas BioPharma in the 2nd quarter worth approximately $1,732,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Zenas BioPharma in the 2nd quarter worth approximately $1,789,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ZBIO shares. Guggenheim reissued a "buy" rating and set a $55.00 price objective on shares of Zenas BioPharma in a report on Wednesday, September 30th. HC Wainwright restated a "buy" rating and issued a $44.00 target price on shares of Zenas BioPharma in a research note on Tuesday, October 13th. Citigroup reiterated a "buy" rating on shares of Zenas BioPharma in a research note on Wednesday, October 28th. Weiss Ratings lowered shares of Zenas BioPharma from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday. Finally, Wedbush reissued an "outperform" rating and issued a $45.00 price target on shares of Zenas BioPharma in a report on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Zenas BioPharma currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.71.

Zenas BioPharma Stock Performance

Shares of ZBIO opened at $28.26 on Monday. Zenas BioPharma, Inc. has a 1 year low of $13.50 and a 1 year high of $44.60. The company has a current ratio of 9.93, a quick ratio of 9.93 and a debt-to-equity ratio of 1.57. The stock has a 50 day simple moving average of $28.98 and a 200-day simple moving average of $25.14. The stock has a market cap of $1.84 billion, a PE ratio of -3.00 and a beta of -0.88.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($1.65) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.41). The company had revenue of $10.00 million during the quarter, compared to analyst estimates of $10.00 million. On average, sell-side analysts predict that Zenas BioPharma, Inc. will post -5.94 EPS for the current fiscal year.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for autoimmune diseases and other serious immune-mediated conditions. The company's research is centered on treatments designed to modulate B-cell activity and restore balance to the immune system.

Zenas' lead product candidate is obexelimab, an investigational bifunctional antibody designed to bind CD19 on B cells and Fc gamma receptor IIb. By engaging both targets, obexelimab is intended to inhibit pathogenic B-cell activity without broadly depleting B cells.

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