Zenas BioPharma (NASDAQ:ZBIO) Cut 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).

Wall Street Zen downgraded shares of Zenas BioPharma (NASDAQ:ZBIO - Free Report) from a hold rating to a sell rating in a report issued on Saturday.

ZBIO has been the topic of a number of other research reports. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of Zenas BioPharma in a report on Friday, May 16th. Wedbush reissued an "outperform" rating and issued a $35.00 price target on shares of Zenas BioPharma in a report on Thursday, May 15th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Zenas BioPharma currently has a consensus rating of "Buy" and an average price target of $36.67.

Zenas BioPharma Stock Up 3.0%

NASDAQ ZBIO traded up $0.47 on Friday, hitting $16.32. The stock had a trading volume of 481,131 shares, compared to its average volume of 146,460. Zenas BioPharma has a 52-week low of $5.83 and a 52-week high of $26.25. The company has a market capitalization of $687.24 million and a P/E ratio of -4.60. The business has a 50-day moving average of $13.01.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last issued its quarterly 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

Institutional investors and hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund bought a new stake in Zenas BioPharma during the 1st quarter valued at about $49,000. PNC Financial Services Group Inc. increased its stake in Zenas BioPharma by 41.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company's stock valued at $89,000 after purchasing an additional 2,679 shares in the last quarter. Sei Investments Co. bought a new stake in Zenas BioPharma during the 2nd quarter valued at about $118,000. Intech Investment Management LLC increased its stake in 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 purchasing an additional 1,607 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Zenas BioPharma by 32.3% during 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.

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.