Zenas BioPharma (NASDAQ:ZBIO) Trading Down 8.2% - Here's Why

Key Points

• Zenas BioPharma shares fell 8.2% to about $30.36, with trading volume roughly 87% below the stock’s average daily volume.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $45.71; however, Morgan Stanley rated the shares “equal weight” with a $32 target.
• The decline follows a weak quarterly report: Zenas posted a loss of $1.77 per share versus estimates of $1.12 and revenue of $1 million versus the expected $15 million.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) traded down 8.2% during trading on Wednesday . The company traded as low as $30.42 and last traded at $30.3550. Approximately 108,173 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 820,216 shares. The stock had previously closed at $33.05.

Analyst Upgrades and Downgrades

ZBIO has been the subject of several analyst reports. Guggenheim reissued a "buy" rating and issued a $55.00 price objective on shares of Zenas BioPharma in a report on Friday, August 14th. Citigroup reiterated a "buy" rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Morgan Stanley boosted their price target on Zenas BioPharma from $22.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, August 14th. Wall Street Zen upgraded Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Finally, Wedbush reaffirmed an "outperform" rating and set a $45.00 price objective on shares of Zenas BioPharma in a research note on Friday, August 14th. Six investment 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.71.

Zenas BioPharma Trading Down 9.7%

The stock has a market cap of $1.95 billion, a PE ratio of -3.32 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. The company has a 50 day moving average of $31.71 and a two-hundred day moving average of $25.01.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last posted 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 firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $15.00 million. Sell-side analysts anticipate that Zenas BioPharma, Inc. will post -5.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zenas BioPharma

A number of large investors have recently added to or reduced their stakes in ZBIO. Engineers Gate Manager LP purchased a new position in Zenas BioPharma during the second quarter valued at $329,000. Squarepoint Ops LLC raised its position in shares of Zenas BioPharma by 192.0% during the 2nd quarter. Squarepoint Ops LLC now owns 125,185 shares of the company's stock worth $3,177,000 after purchasing an additional 82,311 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Zenas BioPharma by 143.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company's stock worth $959,000 after purchasing an additional 22,267 shares during the last quarter. Wellington Management Group LLP lifted its stake in Zenas BioPharma by 27.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company's stock valued at $40,451,000 after buying an additional 347,766 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in Zenas BioPharma in the 2nd quarter worth about $31,247,000.

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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