Oppenheimer Cuts Zura Bio (NASDAQ:ZURA) Price Target to $16.00

Key Points

• Oppenheimer has cut Zura Bio's price target from $17.00 to $16.00, while maintaining an "outperform" rating on the stock.
• Chardan Capital reiterated a "buy" rating with a price target of $10.00, as seven analysts currently rate Zura Bio as a buy.
• Zura Bio's stock price is currently $1.69, showing a significant decline from its 12-month high of $5.07 and with a market capitalization of $115.77 million.

Zura Bio (NASDAQ:ZURA - Free Report) had its price objective cut by Oppenheimer from $17.00 to $16.00 in a research note published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Chardan Capital reissued a "buy" rating and issued a $10.00 price objective on shares of Zura Bio in a research report on Friday, August 15th. One investment 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. According to MarketBeat, Zura Bio has a consensus rating of "Buy" and an average price target of $14.00.

Zura Bio Stock Up 1.2%

Shares of NASDAQ:ZURA traded up $0.02 during trading on Friday, reaching $1.75. The stock had a trading volume of 244,794 shares, compared to its average volume of 515,450. The business has a fifty day moving average price of $1.39 and a 200-day moving average price of $1.32. The stock has a market cap of $119.67 million, a P/E ratio of -2.50 and a beta of -0.06. Zura Bio has a fifty-two week low of $0.97 and a fifty-two week high of $5.07.

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

Hedge Funds Weigh In On Zura Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Advisers LP acquired a new position in Zura Bio during the fourth quarter worth approximately $32,000. Savant Capital LLC increased its position in Zura Bio by 190.4% during the second quarter. Savant Capital LLC now owns 32,409 shares of the company's stock worth $34,000 after purchasing an additional 21,249 shares during the last quarter. ProShare Advisors LLC acquired a new position in Zura Bio during the fourth quarter worth approximately $35,000. XTX Topco Ltd acquired a new position in Zura Bio during the fourth quarter worth approximately $44,000. Finally, Wells Fargo & Company MN increased its position in Zura Bio by 68.6% during the fourth quarter. Wells Fargo & Company MN now owns 23,053 shares of the company's stock worth $58,000 after purchasing an additional 9,379 shares during the last quarter. Institutional investors and hedge funds own 61.14% of the company's stock.

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.