Zenas BioPharma (NASDAQ:ZBIO) Cut to Sell at Wall Street Zen

Key Points

• Zenas BioPharma was downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a more pessimistic outlook on the company's stock performance.
• The company recently reported a quarterly earnings loss of ($1.25) EPS, which was below analysts' expectations of ($1.02).
• Despite the downgrade, Zenas BioPharma's shares saw an increase of 7.9% on the day of the announcement, opening at $20.09.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Friday.

Zenas BioPharma Trading Up 7.9%

Shares of NASDAQ ZBIO opened at $20.09 on Friday. The company has a fifty day moving average price of $17.34 and a 200 day moving average price of $12.46. The firm has a market cap of $845.99 million and a PE ratio of -5.66. Zenas BioPharma has a 1-year low of $5.83 and a 1-year high of $26.25.

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

Institutional Investors Weigh In On Zenas BioPharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in Zenas BioPharma by 32.3% during the 2nd quarter. Bank of America Corp DE now owns 13,991 shares of the company's stock worth $136,000 after buying an additional 3,412 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Zenas BioPharma in the second quarter valued at about $118,000. Federated Hermes Inc. raised its holdings in Zenas BioPharma by 60.8% during the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company's stock worth $18,041,000 after acquiring an additional 703,838 shares in the last quarter. Rhumbline Advisers boosted its position in Zenas BioPharma by 71.3% during the second quarter. Rhumbline Advisers now owns 19,721 shares of the company's stock valued at $191,000 after purchasing an additional 8,207 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in Zenas BioPharma by 13.9% during the second quarter. Intech Investment Management LLC now owns 13,206 shares of the company's stock valued at $128,000 after purchasing an additional 1,607 shares during the last quarter.

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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