Zenas BioPharma (NASDAQ:ZBIO) Shares Gap Up - What's Next?

Key Points

• Zenas BioPharma shares closed at $20.24 after gapping up from a previous close of $20.85 to open at $23.51.
• Wall Street analysts have mixed opinions on ZBIO, with a consensus average rating of "Moderate Buy" and a target price of $36.67, despite some firms issuing a "sell" rating.
• The company reported earnings of ($1.25) per share for the last quarter, falling short of the consensus estimate of ($1.02).

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $20.85, but opened at $23.51. Zenas BioPharma shares last traded at $20.24, with a volume of 338,378 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ZBIO shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zenas BioPharma in a research report on Saturday, September 27th. Wall Street Zen cut shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zenas BioPharma presently has an average rating of "Moderate Buy" and an average target price of $36.67.

Zenas BioPharma Trading Down 0.2%

The stock's fifty day moving average price is $18.19 and its 200-day moving average price is $13.02. The firm has a market cap of $875.89 million and a price-to-earnings ratio of -5.86.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($1.25) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.23).

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Zenas BioPharma in the first quarter valued at approximately $250,000. New York State Common Retirement Fund purchased a new stake in shares of Zenas BioPharma during the 1st quarter worth approximately $49,000. Jefferies Financial Group Inc. acquired a new position in shares of Zenas BioPharma in the 1st quarter valued at $348,000. Geode Capital Management LLC increased its holdings in shares of Zenas BioPharma by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company's stock valued at $3,621,000 after acquiring an additional 16,461 shares during the period. Finally, 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 acquiring an additional 8,207 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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