Zenas BioPharma (NASDAQ:ZBIO) Shares Down 6.5% - Time to Sell?

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 fell 6.5% on Friday . The stock traded as low as $15.14 and last traded at $15.26. 82,893 shares traded hands during trading, a decline of 55% from the average session volume of 185,402 shares. The stock had previously closed at $16.32.

Analyst Ratings Changes

A number of brokerages have commented on ZBIO. HC Wainwright reissued a "buy" rating and issued a $30.00 price objective on shares of Zenas BioPharma in a research note on Friday, May 16th. Wedbush reaffirmed an "outperform" rating and issued a $35.00 price objective on shares of Zenas BioPharma in a research report on Thursday, May 15th.

Zenas BioPharma Price Performance

The stock has a market cap of $645.08 million and a PE ratio of -4.34. The stock's 50-day simple moving average is $11.00.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.80) earnings per share for the quarter, beating analysts' consensus estimates of ($1.15) by $0.35. The business had revenue of $10.00 million during the quarter, compared to analysts' expectations of $5.00 million.

Institutional Investors Weigh In On Zenas BioPharma

A number of hedge funds and other institutional investors have recently bought and sold shares of ZBIO. New York State Common Retirement Fund acquired a new position in Zenas BioPharma during the first quarter worth about $49,000. Nuveen LLC acquired a new stake in shares of Zenas BioPharma in the first quarter valued at approximately $250,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Zenas BioPharma during the 1st quarter worth approximately $348,000.

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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