Zenas BioPharma (NASDAQ:ZBIO) Stock Price Down 7.2% - Here's What Happened

Key Points

• Zenas BioPharma's stock price dropped by 7.2%, closing at $16.03 after trading as low as $15.98, with trading volume significantly down by 70%.
• Analysts have mixed opinions on the stock, with Wedbush issuing an "outperform" rating and a target of $35.00, while Wall Street Zen downgraded it from "hold" to "sell."
• The company's recent earnings report revealed an EPS of ($1.25), missing estimates by ($0.23), and the stock currently has an average price target of $36.67 from analysts.

Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report)'s stock price was down 7.2% during trading on Tuesday . The stock traded as low as $15.98 and last traded at $16.03. Approximately 54,186 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 179,557 shares. The stock had previously closed at $17.28.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. HC Wainwright reiterated a "buy" rating and set a $30.00 price objective on shares of Zenas BioPharma in a report on Friday, May 16th. Finally, 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. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $36.67.

Zenas BioPharma Stock Performance

The firm's fifty day simple moving average is $13.26. The firm has a market cap of $720.08 million and a price-to-earnings ratio of -4.82.

Zenas BioPharma (NASDAQ:ZBIO - Get Free Report) last posted its 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).

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZBIO. Federated Hermes Inc. grew 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 valued at $18,041,000 after buying an additional 703,838 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Zenas BioPharma in the 1st quarter valued at $348,000. Nuveen LLC acquired a new position in Zenas BioPharma in the 1st quarter valued at $250,000. Geode Capital Management LLC grew its stake in Zenas BioPharma by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company's stock valued at $3,621,000 after buying an additional 16,461 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Zenas BioPharma in the 2nd quarter valued at $118,000.

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.