Zenas BioPharma (NASDAQ:ZBIO) Shares Down 6.2% - Time to Sell?

Key Points

• Zenas BioPharma shares fell 6.2% to about $26.43 in thin mid-day trading, with volume down 98% from the average session.
• Analyst sentiment remains generally positive: six analysts rate the stock Buy, two Hold and one Sell, producing a “Moderate Buy” consensus and a $46.71 average price target.
• The company reported a quarterly EPS loss of $1.77 versus the expected $1.12 loss and revenue of $1 million versus a $15 million estimate, while analysts expect a full-year loss of $5.81 per share.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) shares were down 6.2% on Thursday. The stock traded as low as $26.87 and last traded at $26.4250. 20,228 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 816,017 shares. The stock had previously closed at $28.18.

Analyst Upgrades and Downgrades

ZBIO has been the topic of a number of research reports. Wall Street Zen raised shares of Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Guggenheim reissued a "buy" rating and issued a $55.00 price target on shares of Zenas BioPharma in a report on Wednesday, September 30th. HC Wainwright restated a "buy" rating and issued a $44.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Morgan Stanley boosted their price objective on shares of Zenas BioPharma from $22.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, August 14th. Finally, Citigroup upped their price objective on shares of Zenas BioPharma from $41.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday, September 30th. 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 stock. Based on data from MarketBeat, Zenas BioPharma currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.71.

Zenas BioPharma Price Performance

The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93. The stock's 50 day simple moving average is $31.01 and its two-hundred day simple moving average is $25.25. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -2.86 and a beta of -0.90.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZBIO. Quantbot Technologies LP bought a new position in shares of Zenas BioPharma during the 2nd quarter worth approximately $49,000. Jupiter Topco LLC acquired a new stake in Zenas BioPharma in the 2nd quarter valued at $201,000. The Manufacturers Life Insurance Company bought a new stake in Zenas BioPharma in the second quarter valued at $204,000. Bank of New York Mellon Corp grew its position in Zenas BioPharma by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 60,864 shares of the company's stock valued at $1,190,000 after acquiring an additional 9,062 shares during the period. Finally, Sei Investments Co. acquired a new position in Zenas BioPharma during the first quarter worth $242,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for patients with serious autoimmune diseases. The company's research is centered on medicines designed to modulate the immune system while potentially avoiding the broad immune-cell depletion associated with some existing treatments.

Zenas' lead product candidate is obexelimab, an investigational monoclonal antibody designed to bind CD19 and FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.

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