Zhengye Biotechnology (NASDAQ:ZYBT) Shares Gap Down - What's Next?

Key Points

• Zhengye Biotechnology's shares gapped down significantly from a previous close of $12.67 to an opening price of $11.51, reflecting a drop in stock value.
• Despite the decline, Wall Street Zen upgraded the stock to a "hold" rating in a recent research report.
• Several hedge funds have acquired new stakes in Zhengye Biotechnology during the second quarter, with notable investments totaling approximately $1.158 million from Jane Street Group LLC.

Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $12.67, but opened at $11.51. Zhengye Biotechnology shares last traded at $11.47, with a volume of 12,341 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Zhengye Biotechnology to a "hold" rating in a research report on Saturday, August 2nd.

Zhengye Biotechnology Stock Up 4.1%

The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $6.77 and a 200 day simple moving average of $6.91.

Hedge Funds Weigh In On Zhengye Biotechnology

Several hedge funds have recently bought and sold shares of ZYBT. Geode Capital Management LLC purchased a new stake in Zhengye Biotechnology in the 2nd quarter worth approximately $174,000. Invesco Ltd. bought a new position in shares of Zhengye Biotechnology in the second quarter worth $220,000. Finally, Jane Street Group LLC bought a new position in shares of Zhengye Biotechnology in the second quarter worth $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.