Zenas BioPharma (NASDAQ:ZBIO) Releases Quarterly Earnings Results, Misses Estimates By $0.23 EPS

Key Points

• Zenas BioPharma reported a quarterly loss of ($1.25) earnings per share, missing analysts' estimates of ($1.02) by ($0.23).
• The company's stock price rose to $15.64 during trading, with a market capitalization of $654.22 million and a PE ratio of -4.41.
• Analysts from HC Wainwright and Wedbush have issued a "buy" and "outperform" rating, with price targets set at $30.00 and $35.00, respectively.

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

Zenas BioPharma Price Performance

NASDAQ ZBIO traded up $0.06 during mid-day trading on Friday, hitting $16.82. The stock had a trading volume of 128,581 shares, compared to its average volume of 126,694. Zenas BioPharma has a 52-week low of $5.83 and a 52-week high of $26.25. The stock has a 50 day moving average price of $12.74.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen cut Zenas BioPharma from a "hold" rating to a "sell" rating in a research report on Saturday. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Zenas BioPharma in a research note on Friday, May 16th. Finally, Wedbush reissued an "outperform" rating and set a $35.00 target price on shares of Zenas BioPharma in a research note on Thursday, May 15th.

Hedge Funds Weigh In On Zenas BioPharma

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Zenas BioPharma by 32.3% in the 2nd quarter. Bank of America Corp DE now owns 13,991 shares of the company's stock valued at $136,000 after purchasing an additional 3,412 shares in the last quarter. Rhumbline Advisers increased its stake in Zenas BioPharma by 71.3% in the 2nd quarter. Rhumbline Advisers now owns 19,721 shares of the company's stock valued at $191,000 after purchasing an additional 8,207 shares in the last quarter. Sei Investments Co. purchased a new position in Zenas BioPharma in the 2nd quarter valued at approximately $118,000. Finally, Geode Capital Management LLC increased its stake in Zenas BioPharma by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company's stock valued at $3,621,000 after purchasing an additional 16,461 shares in 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.