Zenas BioPharma (NASDAQ:ZBIO) Issues Earnings Results

Key Points

• Zenas BioPharma missed quarterly expectations: It reported a loss of $1.77 per share versus the $1.12 consensus loss estimate, while revenue of $1 million fell far short of the $15 million forecast.
• Shares fell 11% to $27.84 following the earnings release, though the stock remains above its 50-day and 200-day moving averages.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $44.29, while CEO Leon O. Moulder Jr. purchased 60,000 shares and insiders own 22% of the company.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($1.77) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.65), FiscalAI reports. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $15.00 million.

Zenas BioPharma Trading Down 11.0%

ZBIO traded down $3.45 during trading on Thursday, hitting $27.84. The company's stock had a trading volume of 421,176 shares, compared to its average volume of 836,273. Zenas BioPharma has a twelve month low of $13.50 and a twelve month high of $44.60. The stock has a market cap of $1.76 billion, a PE ratio of -3.31 and a beta of -1.03. The firm's 50 day moving average price is $26.49 and its 200-day moving average price is $23.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 11.94 and a quick ratio of 11.94.

Wall Street Analysts Forecast Growth

ZBIO has been the topic of a number of recent analyst reports. Zacks Research raised Zenas BioPharma from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Wall Street Zen raised shares of Zenas BioPharma from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 27th. Morgan Stanley raised their price objective on shares of Zenas BioPharma from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, May 14th. HC Wainwright reaffirmed a "buy" rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Finally, Citigroup reissued a "buy" rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Zenas BioPharma has a consensus rating of "Moderate Buy" and an average target price of $44.29.

Insider Buying and Selling

In other Zenas BioPharma news, CEO Leon O. Moulder, Jr. purchased 60,000 shares of the firm's stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $16.88 per share, with a total value of $1,012,800.00. Following the purchase, the chief executive officer owned 96,928 shares in the company, valued at approximately $1,636,144.64. This represents a 162.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 22.00% of the company's stock.

Institutional Investors Weigh In On Zenas BioPharma

A number of institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in shares of Zenas BioPharma by 28.9% during the 4th quarter. Invesco Ltd. now owns 187,968 shares of the company's stock worth $6,825,000 after purchasing an additional 42,172 shares during the period. XTX Topco Ltd purchased a new stake in shares of Zenas BioPharma in the fourth quarter worth about $442,000. VARCOV Co. acquired a new stake in shares of Zenas BioPharma in the fourth quarter valued at about $266,000. Voloridge Investment Management LLC acquired a new stake in shares of Zenas BioPharma in the fourth quarter valued at about $4,845,000. Finally, Virtus Investment Advisers LLC purchased a new stake in shares of Zenas BioPharma during the 4th quarter valued at about $238,000.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel therapies in oncology and infectious diseases. The company's proprietary platform integrates structure-guided design, computational modeling and high-throughput screening to address challenging protein-protein interactions. Zenas BioPharma is advancing multiple preclinical and clinical-stage candidates aimed at providing new treatment options where current modalities may be limited by efficacy or safety concerns.

Founded in 2021 and headquartered in Cambridge, Massachusetts, Zenas BioPharma was built to streamline the drug discovery process from target identification through to IND-enabling studies.

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