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Zhengye Biotechnology (NASDAQ:ZYBT) Stock Price Up 19.8% - Still a Buy?

Zhengye Biotechnology logo with Medical background

Key Points

  • Zhengye Biotechnology's stock price surged by 19.8%, reaching a high of $11.37 before settling at $11.21 on the latest trading day.
  • Analyst ratings for the company have been adjusted, with Wall Street Zen upgrading the stock to a "hold" rating.
  • Several institutional investors, including Geode Capital Management and Invesco Ltd., have recently acquired new stakes in Zhengye Biotechnology during the second quarter.
  • Five stocks we like better than Zhengye Biotechnology.

Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT - Get Free Report)'s stock price traded up 19.8% during trading on Tuesday . The stock traded as high as $11.37 and last traded at $11.21. 106,820 shares changed hands during trading, a decline of 65% from the average session volume of 305,725 shares. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Report on Zhengye Biotechnology

Zhengye Biotechnology Trading Up 4.1%

The company has a current ratio of 1.31, a quick ratio of 0.88 and a debt-to-equity ratio of 0.01. The firm has a fifty 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 and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Zhengye Biotechnology in the second quarter worth about $1,158,000. Invesco Ltd. acquired a new position in Zhengye Biotechnology in the 2nd quarter worth approximately $220,000. Finally, Geode Capital Management LLC purchased a new position in Zhengye Biotechnology during the 2nd quarter worth approximately $174,000.

About Zhengye Biotechnology

(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.

See Also

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