Zenas BioPharma (NASDAQ:ZBIO) Stock Price Up 7.1% - Still a Buy?

Key Points

• Zenas BioPharma shares climbed 7.1% to about $28.89, although trading volume was 71% below the average session volume.
• Analyst sentiment is generally positive, with six Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with a target price of $46.71.
• The company remains a high-risk, clinical-stage biotech: it missed quarterly EPS and revenue expectations, remains unprofitable, and analysts expect a full-year loss of $5.81 per share.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) rose 7.1% during trading on Thursday. The stock traded as high as $28.63 and last traded at $28.8920. 235,954 shares traded hands during trading, a decline of 71% from the average session volume of 815,445 shares. The stock had previously closed at $26.97.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wall Street Zen raised Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 27th. Citigroup raised their price objective on shares of Zenas BioPharma from $41.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday. Guggenheim reiterated a "buy" rating and issued a $55.00 price objective on shares of Zenas BioPharma in a research note on Wednesday. Morgan Stanley boosted their target price 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. Finally, Weiss Ratings lowered shares of Zenas BioPharma from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zenas BioPharma currently has an average rating of "Moderate Buy" and a consensus target price of $46.71.

Zenas BioPharma Trading Up 6.5%

The firm has a fifty day simple moving average of $31.38 and a 200-day simple moving average of $25.10. The firm has a market cap of $1.87 billion, a P/E ratio of -3.21 and a beta of -1.04. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93.

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

Institutional Investors Weigh In On Zenas BioPharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in Zenas BioPharma during the 2nd quarter worth approximately $49,000. Jupiter Topco LLC bought a new position in shares of Zenas BioPharma in the second quarter valued at approximately $201,000. The Manufacturers Life Insurance Company purchased a new position in shares of Zenas BioPharma during the second quarter valued at approximately $204,000. ProShare Advisors LLC purchased a new position in shares of Zenas BioPharma during the fourth quarter valued at approximately $211,000. Finally, Sei Investments Co. bought a new stake in Zenas BioPharma during the first quarter worth $242,000.

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.

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