Rhumbline Advisers Has $91,000 Stake in Zenas BioPharma, Inc. (NASDAQ:ZBIO)

Rhumbline Advisers trimmed its stake in shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO - Free Report) by 70.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,514 shares of the company's stock after selling 27,428 shares during the period. Rhumbline Advisers' holdings in Zenas BioPharma were worth $91,000 at the end of the most recent reporting period.

Zenas BioPharma Stock Down 5.6%

Shares of NASDAQ:ZBIO traded down $0.57 during midday trading on Friday, hitting $9.58. The company's stock had a trading volume of 488,978 shares, compared to its average volume of 188,143. The stock's 50 day moving average is $10.23. Zenas BioPharma, Inc. has a fifty-two week low of $5.83 and a fifty-two week high of $26.25. The firm has a market capitalization of $400.73 million and a PE ratio of -2.70.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($1.15) by $0.35. The company had revenue of $10.00 million during the quarter, compared to the consensus estimate of $5.00 million.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ZBIO shares. Wedbush reaffirmed an "outperform" rating and issued a $35.00 price objective on shares of Zenas BioPharma in a research report on Thursday, May 15th. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Zenas BioPharma in a research note on Friday, May 16th. Finally, Guggenheim reissued a "buy" rating and issued a $45.00 price objective on shares of Zenas BioPharma in a report on Wednesday, March 12th.

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.