Zenas BioPharma (NASDAQ:ZBIO) Shares Up 5% - Should You Buy?

Key Points

• Zenas BioPharma's stock price increased by 5%, reaching $21.60 on Tuesday, despite a trading volume decline of 15% compared to its average.
• Wall Street analysts have mixed views, with one firm downgrading the stock from "hold" to "sell," while the consensus rating remains a "Buy" with a target price of $36.67.
• The company reported a quarterly earnings loss of ($1.25) per share, which was worse than the consensus estimate, indicating potential challenges ahead.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report)'s stock price shot up 5% on Tuesday . The company traded as high as $21.77 and last traded at $21.60. 164,245 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 192,669 shares. The stock had previously closed at $20.57.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a research report on Friday. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $36.67.

Zenas BioPharma Stock Up 3.1%

The stock has a market capitalization of $892.73 million and a price-to-earnings ratio of -5.97. The company's 50-day moving average is $17.46 and its 200-day moving average is $12.51.

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

Institutional Investors Weigh In On Zenas BioPharma

A number of institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. increased its position in shares of Zenas BioPharma by 60.8% during the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company's stock valued at $18,041,000 after acquiring an additional 703,838 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Zenas BioPharma by 4.6% during the second 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 last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Zenas BioPharma during the first quarter valued at about $348,000. Nuveen LLC acquired a new stake in shares of Zenas BioPharma during the first quarter valued at about $250,000. Finally, Rhumbline Advisers increased its position in shares of Zenas BioPharma by 71.3% during the second 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 last quarter.

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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