Zenas BioPharma (NASDAQ:ZBIO) Hits New 52-Week High - Still a Buy?

Key Points

• Zenas BioPharma's stock (NASDAQ:ZBIO) reached a new 52-week high of $30.00, significantly up from a previous close of $26.99 amid a trading volume of 381 shares.
• Wall Street analysts have mixed views on ZBIO, with Wedbush raising its price target from $35.00 to $40.00 while others downgraded the stock to a "sell" rating, resulting in an average target price of $38.33 and a "Moderate Buy" rating overall.
• High-level insiders have been actively buying shares, with Director Hongbo Lu acquiring 263,160 shares at an average price of $19.00, substantially increasing their stake and reflecting confidence in the company's future.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $30.00 and last traded at $30.00, with a volume of 381 shares changing hands. The stock had previously closed at $26.99.

Wall Street Analysts Forecast Growth

ZBIO has been the subject of a number of research reports. Wedbush boosted their price target on Zenas BioPharma from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. 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 research report on Wednesday, October 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Zenas BioPharma in a research report on Thursday, October 9th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.33.

Zenas BioPharma Price Performance

The company has a fifty day moving average of $19.48 and a 200-day moving average of $13.74. The firm has a market capitalization of $1.11 billion and a PE ratio of -7.44.

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

Insiders Place Their Bets

In other Zenas BioPharma news, Director Hongbo Lu acquired 263,160 shares of the company's stock in a transaction dated Tuesday, October 7th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $5,000,040.00. Following the completion of the purchase, the director owned 321,983 shares of the company's stock, valued at approximately $6,117,677. This trade represents a 447.38% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Sr One Capital Management, Llc bought 126,315 shares of the firm's stock in a transaction that occurred on Thursday, October 9th. The shares were purchased at an average cost of $19.00 per share, for a total transaction of $2,399,985.00. Following the completion of the transaction, the insider owned 1,917,895 shares of the company's stock, valued at $36,440,005. This represents a 7.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 923,035 shares of company stock valued at $17,628,163 in the last ninety days. Company insiders own 16.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC raised its position in shares of Zenas BioPharma by 13.9% during the 2nd quarter. Intech Investment Management LLC now owns 13,206 shares of the company's stock valued at $128,000 after acquiring an additional 1,607 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Zenas BioPharma by 41.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company's stock worth $89,000 after purchasing an additional 2,679 shares during the period. Bank of America Corp DE boosted its stake in shares of 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 during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Zenas BioPharma during the 1st quarter worth about $49,000. Finally, Rhumbline Advisers boosted its stake in shares of Zenas BioPharma by 71.3% during the 2nd quarter. Rhumbline Advisers now owns 19,721 shares of the company's stock worth $191,000 after buying an additional 8,207 shares during the last quarter.

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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