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

Key Points

• Zenas BioPharma (NASDAQ:ZBIO) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen.
• Despite the downgrade, HC Wainwright reaffirmed a "buy" rating with a target price of $30, indicating differing opinions among analysts on the company's stock potential.
• Zenas BioPharma reported an earnings miss with a quarterly EPS of ($1.25), falling short of the expected ($1.02) by ($0.23).

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

ZBIO has been the topic of a number of other research reports. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Zenas BioPharma in a research note on Friday, May 16th. Wedbush reaffirmed an "outperform" rating and set a $35.00 target price on shares of Zenas BioPharma in a research note on Thursday, May 15th.

Zenas BioPharma Stock Performance

ZBIO opened at $16.82 on Friday. The company has a market capitalization of $708.29 million and a PE ratio of -4.74. The company's 50 day simple moving average is $12.74. Zenas BioPharma has a one year low of $5.83 and a one year high of $26.25.

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

Institutional Trading of Zenas BioPharma

Several institutional investors and hedge funds have recently modified their holdings of ZBIO. Federated Hermes Inc. raised its stake in shares of Zenas BioPharma by 60.8% during the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company's stock valued at $18,041,000 after acquiring an additional 703,838 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Zenas BioPharma during the first quarter valued at $348,000. Nuveen LLC purchased a new position in shares of Zenas BioPharma during the first quarter valued at $250,000. Geode Capital Management LLC increased its stake in shares of Zenas BioPharma by 4.6% during the second quarter. Geode Capital Management LLC now owns 373,617 shares of the company's stock valued at $3,621,000 after buying an additional 16,461 shares during the period. Finally, Sei Investments Co. purchased a new position in shares of Zenas BioPharma during the second quarter valued at $118,000.

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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