Zhengye Biotechnology (NASDAQ:ZYBT) Stock Price Down 4.9% - Should You Sell?

Key Points

• Zhengye Biotechnology's stock fell by 4.9% to a last trading price of $9.55, amid increased trading volume of approximately 412,949 shares.
• Wall Street analysts upgraded Zhengye Biotechnology's rating to "hold" in a recent report, indicating a shift in market perception.
• Multiple hedge funds, including Jane Street Group and Invesco Ltd., acquired new stakes in Zhengye Biotechnology during the second quarter, signaling growing interest from institutional investors.

Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT - Get Free Report)'s share price dropped 4.9% during trading on Wednesday . The stock traded as low as $9.50 and last traded at $9.55. Approximately 412,949 shares traded hands during trading, an increase of 38% from the average daily volume of 299,020 shares. The stock had previously closed at $10.04.

Wall Street Analyst Weigh In

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

Zhengye Biotechnology Stock Down 2.5%

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.31 and a quick ratio of 0.88. The company's 50 day moving average is $7.48 and its 200 day moving average is $7.28.

Institutional Investors Weigh In On Zhengye Biotechnology

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC bought a new position in Zhengye Biotechnology during the second quarter valued at $174,000. Invesco Ltd. purchased a new position in Zhengye Biotechnology during the second quarter worth approximately $220,000. Finally, Jane Street Group LLC purchased 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.