Zenas BioPharma (NASDAQ:ZBIO) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Zenas BioPharma has received a "sell (D-)" rating from Weiss Ratings and was downgraded to a "sell" by Wall Street Zen, reflecting negative analyst sentiment towards the stock.
• The company's stock price recently increased by 10.6%, trading at $23.06, despite a reported quarterly loss that missed analyst expectations.
• Zenas BioPharma's market capitalization stands at approximately $971.06 million with a current consensus rating of "Moderate Buy" and a price target of $36.67.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report)'s stock had its "sell (d-)" rating restated by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Zenas BioPharma Trading Up 10.6%

Shares of NASDAQ:ZBIO traded up $2.21 during trading on Wednesday, reaching $23.06. The company's stock had a trading volume of 469,552 shares, compared to its average volume of 197,174. Zenas BioPharma has a 12 month low of $5.83 and a 12 month high of $26.25. The firm's 50 day simple moving average is $18.19 and its two-hundred day simple moving average is $13.02. The stock has a market capitalization of $971.06 million and a PE ratio of -6.50.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last announced 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).

Hedge Funds Weigh In On Zenas BioPharma

A number of institutional investors have recently modified their holdings of ZBIO. New York State Common Retirement Fund purchased a new position in shares of Zenas BioPharma during the first quarter worth approximately $49,000. PNC Financial Services Group Inc. grew its holdings in Zenas BioPharma by 41.2% in the second 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 last quarter. Sei Investments Co. purchased a new position in Zenas BioPharma in the second quarter worth $118,000. Intech Investment Management LLC grew its holdings in Zenas BioPharma by 13.9% in the second quarter. Intech Investment Management LLC now owns 13,206 shares of the company's stock worth $128,000 after purchasing an additional 1,607 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Zenas BioPharma by 32.3% during the second 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 period.

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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