Zenas BioPharma (NASDAQ:ZBIO) Shares Down 6.5% - Here's Why

Key Points

• Zenas BioPharma's shares dropped 6.5% to $15.26, with trading volume down 55% from the average.
• The company beat analysts' earnings expectations, reporting ($0.80) EPS against a consensus estimate of (1.15), with revenues of $10 million.
• Analysts remain optimistic, with HC Wainwright and Wedbush assigning price targets of $30.00 and $35.00 respectively.
• Zenas BioPharma has a market cap of $645.08 million with a negative PE ratio of -4.34.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) shares dropped 6.5% during trading on Friday . The stock traded as low as $15.14 and last traded at $15.26. Approximately 82,893 shares traded hands during trading, a decline of 55% from the average daily volume of 185,402 shares. The stock had previously closed at $16.32.

Wall Street Analysts Forecast Growth

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

Zenas BioPharma Stock Performance

The business's 50-day simple moving average is $11.22.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($1.15) by $0.35. The firm had revenue of $10.00 million for the quarter, compared to analyst estimates of $5.00 million.

Institutional Trading of Zenas BioPharma

A number of institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. bought a new stake in Zenas BioPharma in the 1st quarter valued at about $348,000. Nuveen LLC bought a new stake in Zenas BioPharma in the 1st quarter valued at about $250,000. Finally, New York State Common Retirement Fund bought a new stake in Zenas BioPharma in the 1st quarter valued at about $49,000.

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.