Squarepoint Ops LLC Increases Position in Zenas BioPharma, Inc. $ZBIO

Key Points

• Squarepoint Ops increased its Zenas BioPharma stake by 192% in the second quarter, ending with 125,185 shares worth approximately $3.18 million, or 0.19% of the company.
• Analyst sentiment remains broadly positive, with six Buy ratings, two Holds and one Sell; MarketBeat reports a “Moderate Buy” consensus and an average price target of $45.71.
• ZBIO opened at $31.12, but its latest quarter fell short of expectations, reporting a $1.77 per-share loss versus the $1.12 consensus estimate and revenue of $1 million against $15 million expected.

Squarepoint Ops LLC raised its position in shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO - Free Report) by 192.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,185 shares of the company's stock after purchasing an additional 82,311 shares during the period. Squarepoint Ops LLC owned approximately 0.19% of Zenas BioPharma worth $3,177,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ZBIO. Quarry LP boosted its holdings in shares of Zenas BioPharma by 34.5% in the 3rd quarter. Quarry LP now owns 1,134 shares of the company's stock worth $25,000 after purchasing an additional 291 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Zenas BioPharma by 4.5% during the 4th quarter. Deutsche Bank AG now owns 12,781 shares of the company's stock valued at $464,000 after buying an additional 554 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Zenas BioPharma by 3.9% during the 3rd quarter. Two Sigma Investments LP now owns 20,382 shares of the company's stock valued at $452,000 after buying an additional 765 shares in the last quarter. Bank of America Corp DE lifted its position in Zenas BioPharma by 5.8% in the 3rd quarter. Bank of America Corp DE now owns 14,809 shares of the company's stock worth $329,000 after buying an additional 818 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Zenas BioPharma in the 3rd quarter worth approximately $30,000.

Wall Street Analyst Weigh In

ZBIO has been the subject of several research reports. Wall Street Zen raised Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 27th. Citigroup restated a "buy" rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. HC Wainwright reaffirmed a "buy" rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Weiss Ratings lowered shares of Zenas BioPharma from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, July 9th. Finally, Morgan Stanley boosted their price target 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 analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.71.

Zenas BioPharma Stock Performance

Shares of ZBIO stock opened at $31.12 on Monday. 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, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $44.60. The stock has a 50 day moving average price of $31.16 and a two-hundred day moving average price of $24.70. The company has a market capitalization of $2.03 billion, a P/E ratio of -3.46 and a beta of -1.04.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.77) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.65). The firm had revenue of $1.00 million during the quarter, compared to analysts' expectations of $15.00 million. Analysts expect that Zenas BioPharma, Inc. will post -5.81 earnings per share for the current year.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for patients with immune-mediated diseases. The company's research and development efforts are centered on therapies that modulate the immune system and address conditions with significant unmet medical needs.

Zenas' lead investigational product is obexelimab, an immune-modulating monoclonal antibody designed to inhibit the activity of certain B cells without broadly depleting them. The company is evaluating obexelimab in autoimmune and inflammatory diseases, including IgG4-related disease and systemic lupus erythematosus.

Want to see what other hedge funds are holding ZBIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zenas BioPharma, Inc. (NASDAQ:ZBIO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.