Goldman Sachs Group Inc. Cuts Stake in Zenas BioPharma, Inc. $ZBIO

Key Points

• Goldman Sachs Group Inc. reduced its stake in Zenas BioPharma by 43.2%, owning 23,957 shares valued at $189,000 after selling 18,217 shares during the first quarter.
• Despite the recent stake reduction from Goldman Sachs, other institutional investors have increased their positions in Zenas BioPharma, including Nuveen LLC and Jefferies Financial Group Inc.
• Zenas BioPharma's stock has seen mixed signals, with a recent downgrade to "sell" from Wall Street Zen, while the stock still holds a consensus rating of "Buy" among three analysts.

Goldman Sachs Group Inc. lessened its holdings in shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO - Free Report) by 43.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,957 shares of the company's stock after selling 18,217 shares during the period. Goldman Sachs Group Inc. owned approximately 0.06% of Zenas BioPharma worth $189,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Zenas BioPharma in the first quarter valued at about $250,000. New York State Common Retirement Fund acquired a new stake in Zenas BioPharma in the 1st quarter worth approximately $49,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Zenas BioPharma during the 1st quarter worth approximately $348,000.

Zenas BioPharma Trading Up 2.4%

Shares of ZBIO stock opened at $20.57 on Tuesday. The company has a market capitalization of $866.20 million and a P/E ratio of -5.79. The business's 50 day moving average is $17.46 and its two-hundred day moving average is $12.51. Zenas BioPharma, Inc. has a 12-month low of $5.83 and a 12-month high of $26.25.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.23).

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a research report on Friday. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $36.67.

Zenas BioPharma Profile

Zenas BioPharma, Inc is a clinical-stage global biopharmaceutical company, which engages in the development and commercialization of transformative immunology-based therapies for patients. The company was founded by Lonnie O. Moulder Jr on November 12, 2019 and is headquartered in Waltham, MA.

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