Zenas BioPharma (NASDAQ:ZBIO) Releases Earnings Results, Misses Estimates By $0.41 EPS

Zenas BioPharma (NASDAQ:ZBIO) posted its quarterly earnings results on Thursday. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.41), FiscalAI reports. The firm had revenue of $10.00 million for the quarter, compared to the consensus estimate of $14.07 million.

Zenas BioPharma Stock Performance

ZBIO stock opened at $25.93 on Friday. Zenas BioPharma has a 1 year low of $13.50 and a 1 year high of $44.60. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.88 and a beta of -0.88. The company has a debt-to-equity ratio of 1.57, a quick ratio of 9.93 and a current ratio of 9.93. The stock’s fifty day moving average is $29.07 and its two-hundred day moving average is $25.10.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Zenas BioPharma in a research report on Tuesday, October 20th. They set an “equal weight” rating and a $32.00 price objective for the company. Citigroup reissued a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, October 28th. Guggenheim reissued a “buy” rating and issued a $55.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th. HC Wainwright restated a “buy” rating and issued a $44.00 target price on shares of Zenas BioPharma in a research note on Tuesday, October 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.71.

Hedge Funds Weigh In On Zenas BioPharma

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Zenas BioPharma in the second quarter valued at approximately $68,176,000. Bank of America Corp DE bought a new stake in shares of Zenas BioPharma during the second quarter valued at approximately $31,247,000. Candriam S.C.A. bought a new stake in shares of Zenas BioPharma during the third quarter valued at approximately $17,725,000. Wellington Management Group LLP boosted its position in shares of Zenas BioPharma by 27.9% during the second quarter. Wellington Management Group LLP now owns 1,593,819 shares of the company’s stock worth $40,451,000 after buying an additional 347,766 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of Zenas BioPharma during the first quarter worth approximately $4,888,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for autoimmune diseases and other serious immune-mediated conditions. The company’s research is centered on treatments designed to modulate B-cell activity and restore balance to the immune system.

Zenas’ lead product candidate is obexelimab, an investigational bifunctional antibody designed to bind CD19 on B cells and Fc gamma receptor IIb. By engaging both targets, obexelimab is intended to inhibit pathogenic B-cell activity without broadly depleting B cells.