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Zhengye Biotechnology (NASDAQ:ZYBT) Shares Gap Down - Here's What Happened

Zhengye Biotechnology logo with Medical background

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.
  • Interested in Zhengye Biotechnology? Here are five stocks we like better.

Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT - Get Free Report) gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

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

View Our Latest Analysis on ZYBT

Zhengye Biotechnology Stock Up 14.7%

The company's 50 day moving average price is $7.11 and its 200-day moving average price is $7.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.88 and a current ratio of 1.31.

Institutional Investors Weigh In On Zhengye Biotechnology

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC purchased a new stake in shares of Zhengye Biotechnology during the 2nd quarter valued at approximately $174,000. Invesco Ltd. purchased a new stake in shares of Zhengye Biotechnology during the 2nd quarter valued at approximately $220,000. Finally, Jane Street Group LLC purchased a new stake in shares of Zhengye Biotechnology during the 2nd quarter valued at approximately $1,158,000.

Zhengye Biotechnology Company Profile

(Get Free Report)

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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