HC Wainwright Reiterates Buy Rating for Zenas BioPharma (NASDAQ:ZBIO)

Key Points

• HC Wainwright has reiterated a Buy rating on Zenas BioPharma (NASDAQ:ZBIO) with a price target of $30.00, indicating a potential upside of 15.83% from the current stock price.
• Other analysts have mixed opinions on the stock, with Wall Street Zen downgrading it from a "hold" to a "sell" rating and Weiss Ratings maintaining a "sell (d-)" rating.
• Despite the downgrades, three analysts still rate the stock as a Moderate Buy, and Zenas BioPharma recently saw its stock price increase by 24.2%.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $30.00 price target on the stock. HC Wainwright's price target indicates a potential upside of 15.83% from the company's current price.

Several other equities research analysts have also recently weighed in on ZBIO. Wall Street Zen cut Zenas BioPharma from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Zenas BioPharma in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $36.67.

Zenas BioPharma Trading Up 24.2%

Shares of ZBIO stock opened at $25.90 on Thursday. The stock has a market cap of $1.09 billion and a P/E ratio of -7.30. The stock has a 50 day simple moving average of $18.40 and a 200 day simple moving average of $13.11. Zenas BioPharma has a 1 year low of $5.83 and a 1 year high of $26.59.

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 the consensus estimate of ($1.02) by ($0.23).

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. New York State Common Retirement Fund acquired a new stake in Zenas BioPharma in the first quarter valued at $49,000. PNC Financial Services Group Inc. increased its holdings in Zenas BioPharma by 41.2% in the second quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company's stock valued at $89,000 after purchasing an additional 2,679 shares during the period. Sei Investments Co. acquired a new stake in Zenas BioPharma in the second quarter valued at $118,000. Intech Investment Management LLC increased its holdings in Zenas BioPharma by 13.9% in the second quarter. Intech Investment Management LLC now owns 13,206 shares of the company's stock valued at $128,000 after purchasing an additional 1,607 shares during the period. Finally, Bank of America Corp DE increased its holdings in Zenas BioPharma by 32.3% in the second quarter. Bank of America Corp DE now owns 13,991 shares of the company's stock valued at $136,000 after purchasing an additional 3,412 shares during the period.

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.

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