Wedbush Issues Positive Forecast for Zenas BioPharma (NASDAQ:ZBIO) Stock Price

Key Points

• Wedbush has raised its price target for Zenas BioPharma (NASDAQ:ZBIO) from $35 to $40, suggesting a potential upside of 42.55% from the current price.
• Despite a positive outlook from Wedbush, Zenas BioPharma has received conflicting ratings from other analysts, with Wall Street Zen downgrading it to "sell" and Weiss Ratings issuing a "sell (d-)" rating.
• Zenas BioPharma shares rose by 8.3% recently, reaching $28.06, while the company reported quarterly earnings that missed analysts' expectations, showing a loss of $1.25 per share.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) had its price target upped by research analysts at Wedbush from $35.00 to $40.00 in a report released on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's price target indicates a potential upside of 42.55% from the stock's current price.

ZBIO has been the subject of a number of other reports. Wall Street Zen downgraded Zenas BioPharma from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zenas BioPharma in a report on Wednesday. Finally, HC Wainwright restated a "buy" rating and set a $30.00 target price on shares of Zenas BioPharma in a research note on Thursday. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.33.

Zenas BioPharma Trading Up 8.3%

Shares of Zenas BioPharma stock traded up $2.16 on Thursday, hitting $28.06. The stock had a trading volume of 136,708 shares, compared to its average volume of 199,434. The stock has a market cap of $1.18 billion and a price-to-earnings ratio of -7.90. Zenas BioPharma has a 52-week low of $5.83 and a 52-week high of $28.60. The company's 50 day moving average price is $18.40 and its 200 day moving average price is $13.11.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($1.25) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.23).

Institutional Investors Weigh In On Zenas BioPharma

Several institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. increased its holdings in shares of Zenas BioPharma by 60.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company's stock worth $18,041,000 after purchasing an additional 703,838 shares during the period. Geode Capital Management LLC lifted its position in shares of Zenas BioPharma by 4.6% during the second quarter. Geode Capital Management LLC now owns 373,617 shares of the company's stock worth $3,621,000 after purchasing an additional 16,461 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Zenas BioPharma during the first quarter worth approximately $348,000. Nuveen LLC bought a new stake in shares of Zenas BioPharma during the first quarter worth approximately $250,000. Finally, Rhumbline Advisers raised its holdings in Zenas BioPharma by 71.3% in the second quarter. Rhumbline Advisers now owns 19,721 shares of the company's stock worth $191,000 after purchasing an additional 8,207 shares during the period.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage global biopharmaceutical company, which engages in the development and commercialization of transformative immunology-based therapies for patients. The company was founded by Lonnie O. Moulder Jr on November 12, 2019 and is headquartered in Waltham, MA.

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