Zenas BioPharma (NASDAQ:ZBIO) Stock Jumps 3.3% - Should You Buy?

Key Points

• Zenas BioPharma shares rose 3.3% to about $27.83, though trading volume was 98% below the stock’s average daily volume.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and a $46.71 average price target, well above its current price.
• The company reported weaker-than-expected quarterly results, with a $1.77 loss per share versus expectations of $1.12 and revenue of $1 million versus $15 million forecast; analysts expect a full-year loss of $5.81 per share.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report)'s share price shot up 3.3% on Wednesday. The stock traded as high as $27.82 and last traded at $27.8280. 15,829 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 817,610 shares. The stock had previously closed at $26.94.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Zenas BioPharma from $22.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, August 14th. Weiss Ratings downgraded shares of Zenas BioPharma from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, July 9th. Citigroup increased their target price on shares of Zenas BioPharma from $41.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, September 30th. Wall Street Zen upgraded shares of Zenas BioPharma from a "strong sell" rating to a "sell" rating in a report on Saturday, June 27th. Finally, Wedbush restated an "outperform" rating and issued a $45.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.71.

Zenas BioPharma Trading Up 5.6%

The business has a 50-day moving average of $31.07 and a 200-day moving average of $25.22. The company has a quick ratio of 9.93, a current ratio of 9.93 and a debt-to-equity ratio of 1.57. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -3.16 and a beta of -0.90.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of Zenas BioPharma in the second quarter valued at approximately $49,000. Jupiter Topco LLC acquired a new stake in shares of Zenas BioPharma in the 2nd quarter valued at $201,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Zenas BioPharma in the 2nd quarter valued at $204,000. Sei Investments Co. bought a new stake in shares of Zenas BioPharma during the first quarter worth $242,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Zenas BioPharma during the second quarter worth $329,000.

About Zenas BioPharma

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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