Zenas BioPharma, Inc. $ZBIO Stake Decreased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in Zenas BioPharma by 23%, now holding approximately 873,623 shares valued at around $6.9 million.
• Zenas BioPharma's stock performance shows a market capitalization of $684.71 million and a price-to-earnings ratio of -4.58, with shares currently priced at $16.26.
• After missing earnings expectations with a report of ($1.25) EPS, Zenas BioPharma has received mixed ratings from analysts, with targets ranging from $30 to $36.67.

Wellington Management Group LLP decreased its holdings in shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO - Free Report) by 23.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 873,623 shares of the company's stock after selling 261,666 shares during the period. Wellington Management Group LLP owned approximately 2.09% of Zenas BioPharma worth $6,902,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ZBIO. Jefferies Financial Group Inc. purchased a new position in Zenas BioPharma during the first quarter worth about $348,000. Nuveen LLC purchased a new stake in Zenas BioPharma in the 1st quarter worth approximately $250,000. Finally, New York State Common Retirement Fund purchased a new stake in Zenas BioPharma in the 1st quarter worth approximately $49,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ZBIO shares. Wedbush reiterated an "outperform" rating and issued a $35.00 price target on shares of Zenas BioPharma in a report on Thursday, May 15th. Wall Street Zen lowered shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, HC Wainwright restated a "buy" rating and set a $30.00 target price on shares of Zenas BioPharma in a report on Friday, May 16th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $36.67.

Zenas BioPharma Stock Performance

Zenas BioPharma stock traded up $1.07 during midday trading on Tuesday, hitting $17.07. The stock had a trading volume of 203,225 shares, compared to its average volume of 181,516. The company has a market capitalization of $718.82 million and a PE ratio of -4.81. Zenas BioPharma, Inc. has a 12 month low of $5.83 and a 12 month high of $26.25. The business's fifty day moving average is $14.09.

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

Zenas BioPharma Company 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.