Patrick Enright Buys 105,265 Shares of Zenas BioPharma (NASDAQ:ZBIO) Stock

Key Points

• Patrick Enright, a director at Zenas BioPharma, purchased 105,265 shares at an average price of $19.00, increasing his ownership stake by 6.09% and resulting in a total of 1,832,669 shares valued at approximately $34.8 million.
• Zenas BioPharma's stock is currently trading at $26.27 after a 1.0% decrease, with a market capitalization of $1.11 billion and a P/E ratio of -7.40.
• Analysts have mixed views on the stock, with ratings ranging from "buy" to "sell", while the average price target is set at $38.33.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) Director Patrick Enright acquired 105,265 shares of the business's stock in a transaction that occurred on Thursday, October 9th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $2,000,035.00. Following the completion of the acquisition, the director owned 1,832,669 shares of the company's stock, valued at $34,820,711. This trade represents a 6.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Zenas BioPharma Trading Down 1.0%

Shares of NASDAQ:ZBIO traded down $0.27 on Tuesday, hitting $26.27. 35,489 shares of the company were exchanged, compared to its average volume of 204,907. Zenas BioPharma, Inc. has a 1-year low of $5.83 and a 1-year high of $29.73. The stock's 50 day moving average price is $19.06 and its 200 day moving average price is $13.56. The firm has a market capitalization of $1.11 billion and a P/E ratio of -7.40.

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

Institutional Trading of Zenas BioPharma

Hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund bought a new position in Zenas BioPharma during the first quarter valued at approximately $49,000. Jefferies Financial Group Inc. acquired a new position in Zenas BioPharma during the 1st quarter worth about $348,000. Nuveen LLC acquired a new position in Zenas BioPharma during the 1st quarter valued at about $250,000. PNC Financial Services Group Inc. increased its stake in shares of Zenas BioPharma by 41.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company's stock valued at $89,000 after acquiring an additional 2,679 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Zenas BioPharma by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company's stock worth $3,621,000 after purchasing an additional 16,461 shares in the last quarter.

Analyst Ratings Changes

ZBIO has been the topic of a number of recent research reports. HC Wainwright restated a "buy" rating and set a $30.00 price target on shares of Zenas BioPharma in a research report on Thursday, October 9th. Wall Street Zen downgraded shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Wedbush raised their price objective on shares of Zenas BioPharma from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Zenas BioPharma in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.33.

About Zenas BioPharma

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.