Zenas BioPharma (NASDAQ:ZBIO) Trading Up 9.8% - Here's Why

Key Points

• Zenas BioPharma's shares rose by 9.8%, reaching a trading price of $17.57, despite a notable decline in trading volume.
• Wall Street analysts maintain a consensus rating of "Buy" for Zenas BioPharma, with price targets ranging from $30.00 to $36.67.
• The company reported a quarterly loss of ($1.25) earnings per share, which was less favorable than the consensus estimate of ($1.02).

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO - Get Free Report) were up 9.8% during mid-day trading on Tuesday . The company traded as high as $17.60 and last traded at $17.57. Approximately 83,756 shares changed hands during trading, a decline of 54% from the average daily volume of 180,729 shares. The stock had previously closed at $16.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ZBIO shares. Wedbush restated an "outperform" rating and issued a $35.00 price objective on shares of Zenas BioPharma in a research note on Thursday, May 15th. Wall Street Zen downgraded shares of Zenas BioPharma from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of Zenas BioPharma in a research note on Friday, May 16th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $36.67.

Zenas BioPharma Stock Performance

The company has a market cap of $719.24 million and a PE ratio of -4.81. The business's 50-day moving average price is $14.09.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund acquired a new position in Zenas BioPharma during the 1st quarter valued at about $49,000. PNC Financial Services Group Inc. lifted its position in 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 purchasing an additional 2,679 shares during the period. Sei Investments Co. acquired a new position in Zenas BioPharma during the 2nd quarter valued at about $118,000. Intech Investment Management LLC lifted its position in 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 purchasing an additional 1,607 shares during the period. Finally, Bank of America Corp DE lifted its position in 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 purchasing an additional 3,412 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.

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