Zenas BioPharma (NASDAQ:ZBIO) Sets New 1-Year High Following Analyst Upgrade

Key Points

• Zenas BioPharma shares reached a new 52-week high of $26.59 after an analyst upgrade from Wedbush, raising the stock's price target from $35.00 to $40.00.
• While three analysts rate Zenas BioPharma as a Buy, Wall Street Zen has downgraded it to a Sell, indicating a mix of confidence and caution among analysts regarding the stock.
• Institutional investors have significantly increased their stakes in Zenas BioPharma, with Bank of America boosting its holdings by 32.3% and Federated Hermes increasing its stake by 60.8% in the second quarter.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday after Wedbush raised their price target on the stock from $35.00 to $40.00. Wedbush currently has an outperform rating on the stock. Zenas BioPharma traded as high as $26.59 and last traded at $25.90, with a volume of 1009473 shares trading hands. The stock had previously closed at $20.85.

Several other equities research analysts also recently weighed in on ZBIO. Wall Street Zen downgraded shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a report on Friday, September 26th. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Zenas BioPharma in a report on Thursday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zenas BioPharma in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Zenas BioPharma has an average rating of "Moderate Buy" and an average target price of $38.33.

Institutional Trading of Zenas BioPharma

Several institutional investors and hedge funds have recently bought and sold shares of ZBIO. Bank of America Corp DE increased its holdings in shares of 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 during the period. Sei Investments Co. acquired a new position in shares of Zenas BioPharma in the 2nd quarter valued at about $118,000. Federated Hermes Inc. increased its holdings in shares of Zenas BioPharma by 60.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company's stock valued at $18,041,000 after purchasing an additional 703,838 shares during the period. Rhumbline Advisers increased its holdings in shares of 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 during the period. Finally, Intech Investment Management LLC increased its holdings in shares of Zenas BioPharma by 13.9% in 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 during the period.

Zenas BioPharma Trading Up 6.7%

The company has a market cap of $1.16 billion and a price-to-earnings ratio of -7.79. The business has a fifty day moving average price of $18.40 and a two-hundred day moving average price of $13.11.

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 the consensus estimate of ($1.02) by ($0.23).

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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