Zura Bio (NASDAQ:ZURA) Trading 12.5% Higher - Here's What Happened

Zura Bio Limited (NASDAQ:ZURA - Get Free Report) shares rose 12.5% during trading on Wednesday . The stock traded as high as $1.45 and last traded at $1.35. Approximately 2,013,427 shares traded hands during mid-day trading, an increase of 327% from the average daily volume of 472,034 shares. The stock had previously closed at $1.20.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ZURA. Chardan Capital dropped their price target on Zura Bio from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. HC Wainwright reiterated a "buy" rating on shares of Zura Bio in a report on Thursday, April 3rd. Guggenheim restated a "buy" rating and set a $15.00 price target on shares of Zura Bio in a research note on Wednesday, March 26th. Finally, Oppenheimer lowered their price objective on shares of Zura Bio from $19.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $14.33.

Zura Bio Stock Performance

The company's 50 day moving average price is $1.16 and its 200-day moving average price is $1.43. The stock has a market cap of $92.31 million, a P/E ratio of -1.93 and a beta of -0.10.

Zura Bio (NASDAQ:ZURA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). On average, analysts forecast that Zura Bio Limited will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Zura Bio

Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Zura Bio in the 4th quarter worth approximately $371,000. American Century Companies Inc. bought a new stake in shares of Zura Bio in the fourth quarter valued at $27,000. Prudential Financial Inc. purchased a new position in shares of Zura Bio during the 4th quarter valued at $28,000. JPMorgan Chase & Co. grew its stake in shares of Zura Bio by 12,060.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,633,185 shares of the company's stock worth $6,583,000 after acquiring an additional 2,611,532 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Zura Bio by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 955,426 shares of the company's stock worth $2,389,000 after acquiring an additional 42,801 shares during the last quarter. Institutional investors 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.

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