Zenas BioPharma (NASDAQ:ZBIO) Stock Price 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) dropped 7.1% during trading on Wednesday . The stock traded as low as $20.11 and last traded at $20.28. Approximately 154,351 shares changed hands during trading, a decline of 17% from the average daily volume of 186,257 shares. The stock had previously closed at $21.84.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Zenas BioPharma from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $36.67.

Zenas BioPharma Stock Performance

The stock has a fifty day simple moving average of $16.06.

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

Institutional Investors Weigh In On Zenas BioPharma

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its stake 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 worth $136,000 after purchasing an additional 3,412 shares during the period. Sei Investments Co. bought a new stake in shares of Zenas BioPharma during the 2nd quarter worth $118,000. Federated Hermes Inc. raised its stake in shares of Zenas BioPharma by 60.8% during 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 during the period. Rhumbline Advisers raised its stake in shares of Zenas BioPharma by 71.3% during the 2nd quarter. Rhumbline Advisers now owns 19,721 shares of the company's stock worth $191,000 after purchasing an additional 8,207 shares during the period. Finally, Intech Investment Management LLC raised its stake 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 period.

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.