Zenas BioPharma (NASDAQ:ZBIO) Trading 8.9% Higher - Here's What Happened

Key Points

• Zenas BioPharma's stock increased by 8.9% on Monday, reaching a high of $23.73, although trading volume decreased by 36% compared to its average.
• Wall Street analysts have mixed opinions on ZBIO, with a notable downgrade from Wall Street Zen to a "sell" rating, while the stock holds an average rating of "Moderate Buy" with a price target of $36.67.
• In its latest quarterly earnings report, Zenas BioPharma reported a loss of $1.25 EPS, missing consensus estimates by $0.23.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) was up 8.9% on Monday . The company traded as high as $23.73 and last traded at $23.70. Approximately 125,070 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 194,112 shares. The stock had previously closed at $21.76.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZBIO. Wall Street Zen downgraded shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Zenas BioPharma in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Zenas BioPharma presently has an average rating of "Moderate Buy" and an average price target of $36.67.

Zenas BioPharma Stock Up 5.8%

The firm has a market cap of $969.79 million and a price-to-earnings ratio of -6.49. The stock's 50 day moving average is $17.97 and its 200 day moving average is $12.86.

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

Hedge Funds Weigh In On Zenas BioPharma

Several hedge funds have recently made changes to their positions in ZBIO. New York State Common Retirement Fund acquired a new stake in Zenas BioPharma during the first quarter valued at approximately $49,000. Jefferies Financial Group Inc. acquired a new position in Zenas BioPharma in the first quarter worth approximately $348,000. Nuveen LLC bought a new position in shares of Zenas BioPharma in the first quarter valued at $250,000. PNC Financial Services Group Inc. lifted its position in shares of Zenas BioPharma by 41.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company's stock valued at $89,000 after acquiring an additional 2,679 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Zenas BioPharma by 4.6% during 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 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.

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