Zenas BioPharma (NASDAQ:ZBIO) Trading Down 7.1% - What's Next?

Key Points

• Zenas BioPharma's shares fell by 7.1% to $20.28, marking a significant drop with 154,351 shares traded, which is 17% below the average volume.
• Analysts have mixed ratings on the stock, with Wall Street Zen upgrading it to a "hold" and Wedbush maintaining a price target of $35.00, while the average target is noted at $36.67.
• The company's latest earnings report showed a loss of $1.25 per share, missing the consensus estimate by $0.23.

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) were down 7.1% during trading on Wednesday . The company traded as low as $20.11 and last traded at $20.28. Approximately 154,351 shares were traded during trading, a decline of 17% from the average daily volume of 186,257 shares. The stock had previously closed at $21.84.

Analyst Ratings Changes

A number of research firms recently commented on ZBIO. Wall Street Zen raised Zenas BioPharma from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Wedbush reiterated an "outperform" rating and issued a $35.00 target price on shares of Zenas BioPharma in a report on Thursday, May 15th. Finally, HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Zenas BioPharma in a report on Friday, May 16th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $36.67.

Zenas BioPharma Stock Performance

The stock has a fifty day simple moving average of $15.22. The company has a market cap of $833.36 million and a price-to-earnings ratio of -5.57.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last announced its quarterly earnings results 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 Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new position in shares of Zenas BioPharma during the 1st quarter valued at $49,000. 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 buying an additional 2,679 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Zenas BioPharma during the 2nd quarter valued at $118,000. Intech Investment Management LLC lifted 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 valued at $128,000 after buying an additional 1,607 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Zenas BioPharma by 32.3% during the 2nd quarter. Bank of America Corp DE now owns 13,991 shares of the company's stock valued at $136,000 after buying an additional 3,412 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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