Zenas BioPharma (NASDAQ:ZBIO) Trading Up 8.1% - Should You Buy?

Key Points

• Zenas BioPharma's shares rose by 8.1% on Monday, trading as high as $18.24, despite a significant drop in trading volume of 70% compared to its average.
• Analysts have mixed ratings on the stock, with Wedbush maintaining an "outperform" rating and a $35 price target, while Wall Street Zen downgraded it from "hold" to "sell".
• The company's quarterly earnings report showed a loss of ($1.25) per share, which was below the analysts' consensus estimate of ($1.02).

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) traded up 8.1% during trading on Monday . The stock traded as high as $18.24 and last traded at $18.19. 53,546 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 178,568 shares. The stock had previously closed at $16.82.

Analyst Upgrades and Downgrades

ZBIO has been the topic of several recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Zenas BioPharma in a report on Friday, May 16th. Wedbush restated an "outperform" rating and issued a $35.00 target price on shares of Zenas BioPharma in a research note on Thursday, May 15th. Finally, Wall Street Zen cut Zenas BioPharma from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $36.67.

Zenas BioPharma Stock Up 1.0%

The stock has a market capitalization of $720.08 million and a price-to-earnings ratio of -4.82. The firm has a 50 day moving average price of $13.26.

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

Institutional Investors Weigh In On Zenas BioPharma

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in Zenas BioPharma by 32.3% in the 2nd quarter. Bank of America Corp DE now owns 13,991 shares of the company's stock worth $136,000 after acquiring an additional 3,412 shares in the last quarter. Sei Investments Co. purchased a new position in Zenas BioPharma during the second quarter valued at $118,000. Federated Hermes Inc. grew its position in shares of Zenas BioPharma by 60.8% in the second quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company's stock valued at $18,041,000 after purchasing an additional 703,838 shares during the period. Rhumbline Advisers increased its stake in shares of Zenas BioPharma by 71.3% during the second quarter. Rhumbline Advisers now owns 19,721 shares of the company's stock worth $191,000 after purchasing an additional 8,207 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Zenas BioPharma by 13.9% during the 2nd quarter. Intech Investment Management LLC now owns 13,206 shares of the company's stock worth $128,000 after purchasing an additional 1,607 shares during the last quarter.

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.