Zentalis Pharmaceuticals, Inc. $ZNTL Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 1.11 million Zentalis Pharmaceuticals shares in the second quarter, valued at approximately $5.4 million and representing about 1.56% of the company.
• Analyst sentiment is mixed, with five Buy ratings, four Holds and one Sell; the consensus rating is Hold with a $6.75 price target.
• Zentalis reported a quarterly loss of $0.59 per share, missing estimates by $0.10, while the stock opened at $2.60 and remains focused on developing its cancer drug candidate azenosertib.

Bank of America Corp DE purchased a new position in shares of Zentalis Pharmaceuticals, Inc. (NASDAQ:ZNTL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,114,650 shares of the company's stock, valued at approximately $5,406,000. Bank of America Corp DE owned approximately 1.56% of Zentalis Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. CTC Alternative Strategies Ltd. acquired a new position in shares of Zentalis Pharmaceuticals in the first quarter valued at approximately $29,000. The Manufacturers Life Insurance Company bought a new stake in Zentalis Pharmaceuticals during the 2nd quarter worth approximately $69,000. State of Wyoming acquired a new position in Zentalis Pharmaceuticals in the 2nd quarter valued at approximately $91,000. Sivia Capital Partners LLC acquired a new position in Zentalis Pharmaceuticals in the 4th quarter valued at approximately $27,000. Finally, Marquette Asset Management LLC acquired a new position in Zentalis Pharmaceuticals in the 2nd quarter valued at approximately $141,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ZNTL shares. Rodman & Renshaw started coverage on shares of Zentalis Pharmaceuticals in a report on Thursday, July 23rd. They set a "buy" rating and a $11.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zentalis Pharmaceuticals in a research report on Monday, July 6th. William Blair started coverage on Zentalis Pharmaceuticals in a report on Wednesday, September 16th. They set an "outperform" rating on the stock. Mizuho initiated coverage on Zentalis Pharmaceuticals in a research note on Friday, July 17th. They issued an "outperform" rating and a $8.00 price target for the company. Finally, Wall Street Zen downgraded Zentalis Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.75.

Zentalis Pharmaceuticals Price Performance

Shares of Zentalis Pharmaceuticals stock opened at $2.60 on Tuesday. The stock's 50-day moving average is $3.90 and its 200 day moving average is $3.87. Zentalis Pharmaceuticals, Inc. has a one year low of $1.21 and a one year high of $6.95. The firm has a market cap of $186.34 million, a price-to-earnings ratio of -1.33 and a beta of 1.85.

Zentalis Pharmaceuticals (NASDAQ:ZNTL - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.10). On average, sell-side analysts expect that Zentalis Pharmaceuticals, Inc. will post -2.11 EPS for the current fiscal year.

Insider Buying and Selling at Zentalis Pharmaceuticals

In other news, major shareholder Group Walters bought 4,335,000 shares of Zentalis Pharmaceuticals stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $3.50 per share, for a total transaction of $15,172,500.00. Following the purchase, the insider directly owned 17,844,973 shares in the company, valued at approximately $62,457,405.50. This represents a 32.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company's stock.

Zentalis Pharmaceuticals Company Profile

Zentalis Pharmaceuticals, Inc NASDAQ: ZNTL is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company's research programs are designed to address biological mechanisms involved in tumor growth, resistance to treatment and disease progression.

Zentalis' lead product candidate is azenosertib, formerly known as ZN-c3, an oral, selective WEE1 kinase inhibitor. The company is evaluating azenosertib in clinical studies involving solid tumors and hematologic malignancies, including ovarian cancer, uterine serous carcinoma and other cancers.

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