Zura Bio (NASDAQ:ZURA) Trading Up 7.5% - Should You Buy?

Key Points

• Zura Bio's stock price increased by 7.5% during trading, reaching a high of $1.61 before closing at $1.57.
• Despite the positive movement in stock price, Oppenheimer lowered their price target on Zura Bio from $19.00 to $17.00 while maintaining an "outperform" rating.
• The company recently reported an EPS of (-$0.19), missing estimates, and is projected to post an EPS of (-$0.65) for the current fiscal year according to analysts.

Zura Bio Limited (NASDAQ:ZURA - Get Free Report)'s stock price rose 7.5% on Tuesday . The stock traded as high as $1.61 and last traded at $1.57. Approximately 410,732 shares were traded during trading, a decline of 59% from the average daily volume of 991,829 shares. The stock had previously closed at $1.46.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer reduced their price target on Zura Bio from $19.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Zura Bio has an average rating of "Buy" and an average price target of $14.33.

Zura Bio Trading Down 4.1%

The stock's 50-day moving average price is $1.32 and its 200-day moving average price is $1.33. The stock has a market cap of $97.10 million, a price-to-earnings ratio of -2.03 and a beta of -0.06.

Zura Bio (NASDAQ:ZURA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). As a group, analysts predict that Zura Bio Limited will post -0.65 earnings per share for the current year.

Institutional Investors Weigh In On Zura Bio

A number of institutional investors have recently modified their holdings of ZURA. JPMorgan Chase & Co. raised its position in shares of Zura Bio by 12,060.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,633,185 shares of the company's stock worth $6,583,000 after purchasing an additional 2,611,532 shares during the period. ADAR1 Capital Management LLC raised its position in shares of 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 purchasing an additional 723,933 shares during the period. Allostery Investments LP raised its position in shares of 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 purchasing an additional 714,258 shares during the period. Millennium Management LLC raised its position in shares of 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 purchasing an additional 657,420 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Zura Bio during the fourth quarter worth approximately $750,000. 61.14% of the stock is owned by institutional investors.

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.