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Zhengye Biotechnology (NASDAQ:ZYBT) Trading 5.3% Higher - Still a Buy?

Zhengye Biotechnology logo with Medical background

Key Points

  • Zhengye Biotechnology's share price increased by 5.3% to $8.42 during mid-day trading on Tuesday, despite a significant drop in trading volume.
  • Wall Street analysts have upgraded the stock to a "hold" rating, indicating a cautious optimism about its future performance.
  • Several large investors, including Geode Capital Management and Invesco Ltd., have recently purchased new stakes in Zhengye Biotechnology, signaling potential confidence from institutional investors.
  • Five stocks we like better than Zhengye Biotechnology.

Shares of Zhengye Biotechnology Holding Limited (NASDAQ:ZYBT - Get Free Report) shot up 5.3% during mid-day trading on Tuesday . The stock traded as high as $8.96 and last traded at $8.42. 44,872 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 145,402 shares. The stock had previously closed at $8.00.

Analyst Ratings Changes

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

Get Our Latest Report on Zhengye Biotechnology

Zhengye Biotechnology Stock Up 5.5%

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 company has a 50 day moving average of $6.59 and a 200 day moving average of $6.79.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC acquired a new position in shares of Zhengye Biotechnology during the 2nd quarter worth about $174,000. Invesco Ltd. acquired a new position in shares of Zhengye Biotechnology during the 2nd quarter worth about $220,000. Finally, Jane Street Group LLC acquired a new position in shares of Zhengye Biotechnology during the 2nd quarter worth about $1,158,000.

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.

Further Reading

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