Zenas BioPharma (NASDAQ:ZBIO) Stock Keeps “Buy” Rating at HC Wainwright

Zenas BioPharma (NASDAQ:ZBIO)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $44.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 62.75% from the stock’s current price.

ZBIO has been the topic of several other research reports. Weiss Ratings downgraded Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Zenas BioPharma in a research note on Friday, August 14th. Wall Street Zen raised Zenas BioPharma from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Citigroup reissued a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Finally, Morgan Stanley increased their price objective on Zenas BioPharma from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Zenas BioPharma has a consensus rating of “Moderate Buy” and an average price target of $45.71.

Zenas BioPharma Trading Up 1.0%

NASDAQ ZBIO traded up $0.28 on Wednesday, hitting $27.04. 32,293 shares of the company were exchanged, compared to its average volume of 815,511. The company’s 50 day moving average price is $31.47 and its 200-day moving average price is $25.08. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93. The firm has a market capitalization of $1.76 billion, a P/E ratio of -3.01 and a beta of -1.04. Zenas BioPharma has a twelve month low of $13.50 and a twelve month high of $44.60.

Zenas BioPharma (NASDAQ:ZBIO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.65). The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $15.00 million. Analysts predict that Zenas BioPharma will post -5.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZBIO. Engineers Gate Manager LP acquired a new position in Zenas BioPharma in the 2nd quarter worth about $329,000. Squarepoint Ops LLC increased its position in Zenas BioPharma by 192.0% in the 2nd quarter. Squarepoint Ops LLC now owns 125,185 shares of the company’s stock worth $3,177,000 after purchasing an additional 82,311 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Zenas BioPharma by 143.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 37,790 shares of the company’s stock worth $959,000 after purchasing an additional 22,267 shares during the last quarter. Wellington Management Group LLP increased its position in Zenas BioPharma by 27.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock worth $40,451,000 after purchasing an additional 347,766 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Zenas BioPharma in the 2nd quarter worth about $31,247,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for patients with immune-mediated diseases. The company’s research and development efforts are centered on therapies that modulate the immune system and address conditions with significant unmet medical needs.

Zenas’ lead investigational product is obexelimab, an immune-modulating monoclonal antibody designed to inhibit the activity of certain B cells without broadly depleting them. The company is evaluating obexelimab in autoimmune and inflammatory diseases, including IgG4-related disease and systemic lupus erythematosus.