Zura Bio (NASDAQ:ZURA) Price Target Cut to $16.00 by Analysts at Oppenheimer

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 - Get Free Report) had its price objective cut by equities researchers at Oppenheimer from $17.00 to $16.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock.

Separately, Chardan Capital reiterated a "buy" rating and issued a $10.00 price objective on shares of Zura Bio in a research note on Friday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $14.17.

Zura Bio Stock Performance

Shares of Zura Bio stock traded down $0.03 during mid-day trading on Friday, hitting $1.69. 138,851 shares of the stock were exchanged, compared to its average volume of 514,609. Zura Bio has a 12 month low of $0.97 and a 12 month high of $5.07. The company has a 50-day simple moving average of $1.36 and a 200 day simple moving average of $1.32. The company has a market capitalization of $115.77 million, a P/E ratio of -2.44 and a beta of -0.06.

Zura Bio (NASDAQ:ZURA - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.02. Analysts predict that Zura Bio will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Zura Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Zura Bio by 78.7% during 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. ADAR1 Capital Management LLC raised its holdings in Zura Bio by 34.9% during the 1st quarter. ADAR1 Capital Management LLC now owns 2,801,184 shares of the company's stock valued at $3,614,000 after acquiring an additional 723,933 shares during the period. Allostery Investments LP raised its holdings in Zura Bio by 44.2% during the 1st quarter. Allostery Investments LP now owns 2,329,384 shares of the company's stock valued at $3,005,000 after acquiring an additional 714,258 shares during the period. Armistice Capital LLC raised its holdings in Zura Bio by 2.4% during the 1st quarter. Armistice Capital LLC now owns 1,536,000 shares of the company's stock valued at $1,981,000 after acquiring an additional 36,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Zura Bio by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 955,426 shares of the company's stock valued at $2,389,000 after acquiring an additional 42,801 shares during the period. Institutional investors own 61.14% of the company's stock.

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.

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