Zenas BioPharma (NASDAQ:ZBIO) Shares Down 4.5% - Here's What Happened

Key Points

• Zenas BioPharma shares fell 4.5% to $26.30 in light trading, with volume down 98% from the average daily level.
• Analyst sentiment remains generally positive: six analysts rate the stock Buy, two rate it Hold, and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $45.71.
• The company reported a quarterly EPS loss of $1.77, missing the $1.12 consensus estimate, while revenue of $1 million was well below the $15 million forecast.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) shares traded down 4.5% during trading on Tuesday. The stock traded as low as $26.53 and last traded at $26.30. 17,790 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 817,403 shares. The stock had previously closed at $27.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ZBIO shares. HC Wainwright restated a "buy" rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Citigroup reiterated a "buy" rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Wall Street Zen raised Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Guggenheim restated a "buy" rating and set a $55.00 price target on shares of Zenas BioPharma in a report on Friday, August 14th. Finally, Morgan Stanley raised their price target on Zenas BioPharma from $22.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, August 14th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.71.

Zenas BioPharma Stock Down 4.4%

The business's fifty day moving average is $31.58 and its two-hundred day moving average is $25.07. The company has a market cap of $1.72 billion, a P/E ratio of -2.93 and a beta of -1.04. The company has a debt-to-equity ratio of 1.57, a quick ratio of 9.93 and a current ratio of 9.93.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $15.00 million. Equities analysts predict that Zenas BioPharma, Inc. will post -5.81 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Zenas BioPharma in the second quarter valued at about $68,176,000. Bank of America Corp DE purchased a new stake in Zenas BioPharma in the second quarter worth about $31,247,000. Polar Capital Holdings Plc bought a new position in Zenas BioPharma during the 4th quarter worth about $38,402,000. EcoR1 Capital LLC bought a new position in Zenas BioPharma during the 4th quarter worth about $28,667,000. Finally, Wellington Management Group LLP increased its position in Zenas BioPharma by 27.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company's stock valued at $40,451,000 after purchasing an additional 347,766 shares during the period.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for patients with immune-mediated diseases. The company's research and development efforts are centered on therapies that modulate the immune system and address conditions with significant unmet medical needs.

Zenas' lead investigational product is obexelimab, an immune-modulating monoclonal antibody designed to inhibit the activity of certain B cells without broadly depleting them. The company is evaluating obexelimab in autoimmune and inflammatory diseases, including IgG4-related disease and systemic lupus erythematosus.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.