Piper Sandler Begins Coverage on Zura Bio (NASDAQ:ZURA)

Piper Sandler began coverage on shares of Zura Bio (NASDAQ:ZURA - Free Report) in a research report released on Friday, Marketbeat Ratings reports. The firm issued an overweight rating and a $26.00 target price on the stock.

Separately, Oppenheimer reissued an outperform rating and set a $16.00 target price (down previously from $17.00) on shares of Zura Bio in a research report on Monday, April 1st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zura Bio presently has an average rating of Buy and a consensus target price of $18.00.

Zura Bio Trading Up 6.0 %

Zura Bio stock traded up $0.26 during midday trading on Friday, reaching $4.62. The company's stock had a trading volume of 296,747 shares, compared to its average volume of 284,507. The stock's 50-day simple moving average is $3.24 and its 200-day simple moving average is $3.95. Zura Bio has a 52-week low of $2.00 and a 52-week high of $14.00.

Insider Activity

In other news, Director Amit Munshi bought 159,744 shares of the firm's stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average cost of $3.13 per share, for a total transaction of $499,998.72. Following the purchase, the director now directly owns 777,384 shares in the company, valued at approximately $2,433,211.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired 170,926 shares of company stock valued at $534,998 in the last ninety days. Insiders own 15.80% of the company's stock.

Hedge Funds Weigh In On Zura Bio

Large investors have recently made changes to their positions in the company. Lynx1 Capital Management LP acquired a new position in shares of Zura Bio in the 3rd quarter valued at $65,000. Forefront Analytics LLC acquired a new position in Zura Bio during the third quarter worth $95,000. Bank of New York Mellon Corp acquired a new position in Zura Bio during the third quarter worth $224,000. Raymond James & Associates raised its position in Zura Bio by 14.0% during the third quarter. Raymond James & Associates now owns 77,356 shares of the company's stock worth $511,000 after acquiring an additional 9,481 shares during the period. Finally, Eisler Capital US LLC acquired a new position in Zura Bio during the third quarter worth $660,000. 61.14% of the stock is currently owned by institutional investors and hedge funds.

Zura Bio Company Profile

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops Tibulizumab, an IgG-scFv bispecific dual-antagonist antibody engineered by the fusion of ixekizumab and tabalumab that neutralizes IL-17A and BAFF, which is in Phase 2 clinical trial development; ZB-168, a monoclonal antibody that binds and neutralizes the IL-7 receptor chain that impact on diseases driven by IL7 and thymic stromal lymphopoietin immune pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.