Zura Bio (NASDAQ:ZURA) Releases Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Zura Bio reported a quarterly earnings per share (EPS) of ($0.17), surpassing expectations by $0.02.
• The company has a market cap of $111.12 million and its stock price recently traded at $1.63 after a slight increase.
• Seven analysts have given Zura Bio a buy rating, with an average target price of $14.33, despite a recent downgrade from Oppenheimer.

Zura Bio (NASDAQ:ZURA - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.02, Zacks reports.

Zura Bio Price Performance

ZURA traded down $0.01 during trading on Tuesday, hitting $1.73. The company's stock had a trading volume of 375,230 shares, compared to its average volume of 368,861. Zura Bio has a twelve month low of $0.97 and a twelve month high of $5.07. The stock has a market cap of $118.30 million, a PE ratio of -2.47 and a beta of -0.06. The firm's 50 day moving average price is $1.39 and its 200-day moving average price is $1.32.

Institutional Trading of Zura Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in Zura Bio during the first quarter worth approximately $72,000. Bank of America Corp DE raised its holdings in Zura Bio by 31.9% in the fourth quarter. Bank of America Corp DE now owns 41,222 shares of the company's stock valued at $103,000 after buying an additional 9,966 shares during the period. Jane Street Group LLC acquired a new stake in shares of Zura Bio in the second quarter worth $113,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Zura Bio by 78.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,659,951 shares of the company's stock valued at $4,893,000 after acquiring an additional 2,052,732 shares during the period. Hedge funds and other institutional investors own 61.14% of the company's stock.

Analysts Set New Price Targets

ZURA has been the subject of a number of analyst reports. HC Wainwright cut their price objective on shares of Zura Bio from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday. Oppenheimer dropped their price objective on Zura Bio from $17.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Chardan Capital reiterated a "buy" rating and issued a $10.00 price objective on shares of Zura Bio in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $14.00.

About Zura Bio

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.