Zura Bio (NASDAQ:ZURA) Stock Price Down 0.7% - Here's What Happened

Key Points

• Zura Bio shares fell 0.7% to about $4.11, with trading volume roughly 66% above the average session volume.
• Analyst sentiment remains broadly positive: the stock has a “Moderate Buy” consensus rating and a $17.00 average price target, while Guggenheim and Wedbush recently raised their targets to $20 and $22, respectively.
• Zura Bio reported a quarterly loss of $0.21 per share, and analysts expect a full-year loss of $0.81 per share. Institutional investors hold 61.14% of the company’s stock.

Shares of Zura Bio Limited (NASDAQ:ZURA - Get Free Report) traded down 0.7% during trading on Friday. The company traded as low as $4.07 and last traded at $4.11. Approximately 2,953,782 shares were traded during mid-day trading, an increase of 66% from the average session volume of 1,780,652 shares. The stock had previously closed at $4.14.

Analysts Set New Price Targets

A number of research firms have issued reports on ZURA. Guggenheim upped their target price on shares of Zura Bio from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Wedbush lifted their price target on shares of Zura Bio from $15.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Zura Bio in a research note on Monday, July 6th. William Blair started coverage on shares of Zura Bio in a report on Wednesday, July 8th. They issued an "outperform" rating on the stock. Finally, Wall Street Zen raised shares of Zura Bio from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Zura Bio Stock Down 0.7%

The stock has a market cap of $393.86 million, a P/E ratio of -3.64 and a beta of 0.01. The stock has a fifty day simple moving average of $5.33 and a 200-day simple moving average of $5.11.

Zura Bio (NASDAQ:ZURA - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported ($0.21) earnings per share (EPS) for the quarter. Sell-side analysts anticipate that Zura Bio Limited will post -0.81 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ZURA. Montanova Capital LLC boosted its position in shares of Zura Bio by 4.1% during the second quarter. Montanova Capital LLC now owns 9,443,001 shares of the company's stock worth $55,714,000 after purchasing an additional 376,000 shares in the last quarter. Bank of America Corp DE increased its position in shares of Zura Bio by 3,007.7% in the 1st quarter. Bank of America Corp DE now owns 136,523 shares of the company's stock valued at $812,000 after buying an additional 132,130 shares in the last quarter. Stempoint Capital LP bought a new stake in shares of Zura Bio in the 1st quarter valued at $4,483,000. ADAR1 Capital Management LLC raised its stake in Zura Bio by 12.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 630,403 shares of the company's stock worth $3,751,000 after buying an additional 68,338 shares during the period. Finally, EcoR1 Capital LLC acquired a new stake in Zura Bio during the 1st quarter worth $7,019,000. Institutional investors and hedge funds own 61.14% of the company's stock.

Zura Bio Company Profile

Zura Bio Limited NASDAQ: ZURA is a clinical-stage biotechnology company focused on developing medicines for chronic inflammatory and immune-mediated diseases. The company is advancing therapies designed to address conditions with significant unmet medical needs, including hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis and inflammatory bowel disease.

Zura Bio's pipeline includes ZB-106, an investigational inhibitor of interleukin-17A and interleukin-17F being evaluated in inflammatory diseases, and ZB-880, an investigational therapy targeting TL1A, a cytokine associated with intestinal inflammation.

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