Zenas BioPharma (NASDAQ:ZBIO) Director Hongbo Lu Purchases 263,160 Shares

Key Points

• Hongbo Lu, the Director of Zenas BioPharma, purchased 263,160 shares at $19.00 each, totaling over $5 million, significantly increasing his ownership by 447.38%.
• Zenas BioPharma's stock is currently trading at $27.76, reflecting a 7.2% increase, with a 1-year high of $28.72.
• Analyst ratings for Zenas BioPharma show mixed opinions, with three analysts giving a Buy rating and one a Sell rating, while price targets range from $30.00 to $40.00.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) Director Hongbo Lu bought 263,160 shares of the firm's stock in a transaction that occurred on Tuesday, October 7th. The shares were acquired at an average cost of $19.00 per share, with a total value of $5,000,040.00. Following the purchase, the director directly owned 321,983 shares of the company's stock, valued at $6,117,677. This trade represents a 447.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Zenas BioPharma Trading Up 7.2%

NASDAQ ZBIO traded up $1.86 during trading hours on Thursday, hitting $27.76. 830,731 shares of the company's stock were exchanged, compared to its average volume of 203,089. The stock has a 50-day simple moving average of $18.40 and a 200 day simple moving average of $13.11. Zenas BioPharma, Inc. has a 1-year low of $5.83 and a 1-year high of $28.72. The firm has a market cap of $1.17 billion and a price-to-earnings ratio of -7.82.

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

Institutional Trading of Zenas BioPharma

Hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund bought a new stake in Zenas BioPharma during the first quarter worth $49,000. PNC Financial Services Group Inc. increased its position in Zenas BioPharma by 41.2% in the second quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company's stock worth $89,000 after buying an additional 2,679 shares during the last quarter. Sei Investments Co. purchased a new stake in Zenas BioPharma in the second quarter worth $118,000. Intech Investment Management LLC increased its position in Zenas BioPharma by 13.9% in the second quarter. Intech Investment Management LLC now owns 13,206 shares of the company's stock worth $128,000 after buying an additional 1,607 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Zenas BioPharma by 32.3% in the second 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 during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZBIO. HC Wainwright reiterated a "buy" rating and issued a $30.00 price target on shares of Zenas BioPharma in a report on Thursday. Wall Street Zen lowered Zenas BioPharma from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Zenas BioPharma in a report on Wednesday. Finally, Wedbush raised their target price on Zenas BioPharma from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.33.

About Zenas BioPharma

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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