Zenas BioPharma (NASDAQ:ZBIO) Shares Break Below 50 Day Moving Average - What's Next?

Key Points

• Zenas BioPharma shares fell below their 50-day moving average of $28.68, reaching an intraday low of $27.42 and last trading at $27.64.
• Analysts’ overall view remains a “Moderate Buy,” with a consensus price target of $46.71; six analysts rate the stock Buy, two Hold, and one Sell.
• The company reported a quarterly loss of $1.65 per share, missing the consensus estimate of a $1.24 loss. Revenue of $10 million matched expectations.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report)'s stock price passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $28.68 and traded as low as $27.42. Zenas BioPharma shares last traded at $27.64, with a volume of 752,030 shares trading hands.

Analysts Set New Price Targets

Several research firms recently weighed in on ZBIO. Weiss Ratings cut Zenas BioPharma from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, November 4th. Guggenheim reaffirmed a "buy" rating and issued a $55.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Wedbush reaffirmed an "outperform" rating and issued a $45.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Citigroup reiterated a "buy" rating on shares of Zenas BioPharma in a report on Wednesday, October 28th. Finally, HC Wainwright reissued a "buy" rating and issued a $44.00 price objective on shares of Zenas BioPharma in a research report on Tuesday, October 13th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Zenas BioPharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.71.

Zenas BioPharma Price Performance

The stock's 50-day moving average price is $28.68 and its 200 day moving average price is $25.31. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -2.93 and a beta of -0.88. The company has a quick ratio of 9.93, a current ratio of 9.42 and a debt-to-equity ratio of 1.88.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.24) by ($0.41). The company had revenue of $10.00 million during the quarter, compared to analysts' expectations of $10.00 million. Equities research analysts predict that Zenas BioPharma, Inc. will post -6.23 earnings per share for the current year.

Institutional Trading of Zenas BioPharma

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Zenas BioPharma during the second quarter worth $68,176,000. Wellington Management Group LLP raised its stake in shares of Zenas BioPharma by 27.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company's stock valued at $40,451,000 after buying an additional 347,766 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Zenas BioPharma in the 2nd quarter valued at $31,247,000. Candriam S.C.A. bought a new position in shares of Zenas BioPharma during the 3rd quarter worth about $17,725,000. Finally, Walleye Capital LLC bought a new position in shares of Zenas BioPharma during the 2nd quarter worth about $5,306,000.

Zenas BioPharma Company Profile

Zenas BioPharma is a clinical-stage biopharmaceutical company focused on developing treatments for autoimmune diseases. Founded in 2019 and based in Waltham, Massachusetts, the company describes itself as a global biopharmaceutical business. Its lead investigational medicine, obexelimab, is a bifunctional antibody designed to bind CD19 and FcγRIIb and inhibit B-cell activity. Zenas is developing the drug for autoimmune conditions, including IgG4-related disease; it has not been approved for commercial use.

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