Zura Bio (NASDAQ:ZURA) Given New $2.00 Price Target at HC Wainwright

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Zura Bio (NASDAQ:ZURA - Get Free Report) had its price target lowered by research analysts at HC Wainwright from $3.00 to $2.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. HC Wainwright's target price suggests a potential upside of 14.94% from the company's previous close.

ZURA has been the topic of a number of other reports. Oppenheimer lowered their price target on shares of Zura Bio from $17.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday. Chardan Capital reissued a "buy" rating and set a $10.00 price target on shares of Zura Bio in a report on Friday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $14.00.

Zura Bio Price Performance

ZURA stock opened at $1.74 on Tuesday. The firm's fifty day simple moving average is $1.38 and its 200-day simple moving average is $1.32. The company has a market capitalization of $118.97 million, a P/E ratio of -2.49 and a beta of -0.06. Zura Bio has a 12 month low of $0.97 and a 12 month high of $5.07.

Zura Bio (NASDAQ:ZURA - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.02. As a group, sell-side analysts forecast that Zura Bio will post -0.65 earnings per share for the current year.

Hedge Funds Weigh In On Zura Bio

A number of large investors have recently added to or reduced their stakes in ZURA. JPMorgan Chase & Co. raised its position in Zura Bio by 78.7% during the second quarter. JPMorgan Chase & Co. now owns 4,659,951 shares of the company's stock worth $4,893,000 after acquiring an additional 2,052,732 shares during the period. ADAR1 Capital Management LLC raised its position in Zura Bio by 34.9% during the first quarter. ADAR1 Capital Management LLC now owns 2,801,184 shares of the company's stock worth $3,614,000 after acquiring an additional 723,933 shares during the period. Allostery Investments LP raised its position in Zura Bio by 44.2% during the first quarter. Allostery Investments LP now owns 2,329,384 shares of the company's stock worth $3,005,000 after acquiring an additional 714,258 shares during the period. Millennium Management LLC raised its position in Zura Bio by 1,499.0% during the fourth quarter. Millennium Management LLC now owns 701,278 shares of the company's stock worth $1,753,000 after acquiring an additional 657,420 shares during the period. Finally, Boxer Capital Management LLC acquired a new position in Zura Bio during the fourth quarter worth $750,000. 61.14% of the stock is currently owned by institutional investors and hedge funds.

Zura Bio Company Profile

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops Tibulizumab, an IgG-scFv bispecific dual-antagonist antibody engineered by the fusion of ixekizumab and tabalumab that neutralizes IL-17A and BAFF, which is in Phase 2 clinical trial development; ZB-168, a monoclonal antibody that binds and neutralizes the IL-7 receptor chain that impact on diseases driven by IL7 and thymic stromal lymphopoietin immune pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.