Zenas BioPharma (NASDAQ:ZBIO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Zenas BioPharma (NASDAQ:ZBIO) has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen.
• Despite a recent quarterly earnings report showing a loss of ($1.25) per share, three analysts maintain a "buy" rating for the stock with an average price target of $36.67.
• The company has a market cap of $863.68 million and observed stock performance with a 1-year low of $5.83 and a high of $26.25.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

ZBIO has been the subject of a number of other reports. Wedbush reiterated an "outperform" rating and issued a $35.00 price target on shares of Zenas BioPharma in a research report on Thursday, May 15th. HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of Zenas BioPharma in a report on Friday, May 16th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $36.67.

Zenas BioPharma Stock Performance

ZBIO stock opened at $20.51 on Friday. The business's 50-day moving average price is $14.73. The company has a market cap of $863.68 million and a PE ratio of -5.78. Zenas BioPharma has a 1 year low of $5.83 and a 1 year high of $26.25.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last announced its quarterly earnings data 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 Investors Weigh In On Zenas BioPharma

Several hedge funds and other institutional investors have recently made changes to their positions in ZBIO. Federated Hermes Inc. boosted its stake in Zenas BioPharma by 60.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company's stock worth $18,041,000 after purchasing an additional 703,838 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Zenas BioPharma during the first quarter worth approximately $348,000. Nuveen LLC acquired a new position in Zenas BioPharma in the first quarter valued at approximately $250,000. Geode Capital Management LLC boosted its holdings in shares of Zenas BioPharma by 4.6% in 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 period. Finally, Sei Investments Co. acquired a new stake in shares of Zenas BioPharma during the second quarter worth $118,000.

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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