Zenas BioPharma (NASDAQ:ZBIO) Stock Jumps 6.9% - Here's What Happened

Key Points

• Zenas BioPharma shares jumped 6.9% to about $26.55, although trading volume was roughly 93% below the stock’s average session volume.
• Analyst sentiment is generally positive: the stock has a consensus “Moderate Buy” rating and a $46.71 average price target, with recent targets ranging from $45 to $55.
• The company’s latest quarterly results fell short of expectations, reporting a $1.77-per-share loss versus the anticipated $1.12 loss and revenue of $1 million versus the expected $15 million.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report)'s stock price rose 6.9% on Monday. The company traded as high as $26.67 and last traded at $26.5490. Approximately 59,467 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 805,896 shares. The stock had previously closed at $24.84.

Analysts Set New Price Targets

A number of analysts have recently commented on ZBIO shares. Citigroup boosted their price target on Zenas BioPharma from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, September 30th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Zenas BioPharma in a research report on Tuesday, October 6th. Wedbush reaffirmed an "outperform" rating and set a $45.00 price objective on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Guggenheim reiterated a "buy" rating and set a $55.00 price objective on shares of Zenas BioPharma in a research note on Wednesday, September 30th. Finally, Wall Street Zen raised Zenas BioPharma from a "strong sell" rating to a "sell" rating in a report on Saturday, June 27th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.71.

Zenas BioPharma Trading Up 8.6%

The stock has a market capitalization of $1.76 billion, a PE ratio of -3.00 and a beta of -0.90. The stock has a 50-day moving average price of $30.16 and a two-hundred day moving average price of $25.50. 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 Thursday, August 13th. The company reported ($1.77) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.65). The firm had revenue of $1.00 million during the quarter, compared to analysts' expectations of $15.00 million. As a group, equities analysts forecast that Zenas BioPharma, Inc. will post -5.81 earnings per share for the current year.

Hedge Funds Weigh In On Zenas BioPharma

Hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Zenas BioPharma in the second quarter worth approximately $49,000. Jupiter Topco LLC purchased a new stake in Zenas BioPharma in the second quarter worth $201,000. The Manufacturers Life Insurance Company bought a new stake in shares of Zenas BioPharma during the second quarter worth $204,000. Bank of New York Mellon Corp boosted its stake in shares of Zenas BioPharma by 17.5% during 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 purchasing an additional 9,062 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Zenas BioPharma in the first quarter worth about $242,000.

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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