Zhengye Biotechnology (NASDAQ:ZYBT) Shares Gap Down - Should You Sell?

Key Points

• Zhengye Biotechnology shares gapped down from a previous close of $9.82 to an opening of $9.49 before last trading at $10.76 with a volume of 54,010 shares.
• Wall Street analysts raised Zhengye Biotechnology to a "hold" rating, indicating a neutral stance on the stock's performance.
• Institutional investors have recently shown interest, with several firms, including Geode Capital Management and Invesco, acquiring new positions in Zhengye Biotechnology during the second quarter.

Shares of Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $9.82, but opened at $9.49. Zhengye Biotechnology shares last traded at $10.76, with a volume of 54,010 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Zhengye Biotechnology to a "hold" rating in a research note on Saturday, August 2nd.

Zhengye Biotechnology Trading Up 4.0%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.88 and a current ratio of 1.31. The business's fifty day moving average price is $6.89 and its 200 day moving average price is $6.96.

Institutional Investors Weigh In On Zhengye Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in ZYBT. Geode Capital Management LLC bought a new position in shares of Zhengye Biotechnology during the second quarter worth about $174,000. Invesco Ltd. acquired a new stake in Zhengye Biotechnology during the 2nd quarter valued at approximately $220,000. Finally, Jane Street Group LLC bought a new position in Zhengye Biotechnology during the 2nd quarter worth 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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