Zhengye Biotechnology (NASDAQ:ZYBT) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Zhengye Biotechnology (NASDAQ: ZYBT) has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, indicating ongoing concerns about its stock performance.
• Despite the sell rating from Weiss, Wall Street Zen has upgraded its recommendation to "hold," reflecting differing views among analysts.
• The company's stock recently traded at $2.81, down 1.7%, and has seen significant institutional investment interest, with new positions acquired by multiple hedge funds.

Zhengye Biotechnology (NASDAQ:ZYBT - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen raised shares of Zhengye Biotechnology to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell".

Zhengye Biotechnology Trading Down 1.7%

Zhengye Biotechnology stock traded down $0.05 during midday trading on Tuesday, hitting $2.81. 64,862 shares of the company's stock were exchanged, compared to its average volume of 398,405. Zhengye Biotechnology has a 12-month low of $1.40 and a 12-month high of $14.30. The firm's 50 day simple moving average is $6.79 and its 200 day simple moving average is $7.11.

Hedge Funds Weigh In On Zhengye Biotechnology

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC acquired a new position in shares of Zhengye Biotechnology in the second quarter valued at approximately $174,000. Invesco Ltd. acquired a new position in shares of Zhengye Biotechnology in the second quarter valued at approximately $220,000. Finally, Jane Street Group LLC acquired a new position in shares of Zhengye Biotechnology in the second quarter valued at approximately $1,158,000.

About Zhengye Biotechnology

Zhengye Biotechnology Holding Limited is a veterinary vaccine manufacturer which encompasses research, development, manufacturing and sales of veterinary vaccines, with a focus on livestock vaccine principally in China. Zhengye Biotechnology Holding Limited is based in Jilin, China.

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