Insider Buying: Zentalis Pharmaceuticals (NASDAQ:ZNTL) Major Shareholder Purchases 6,459,973 Shares of Stock

Zentalis Pharmaceuticals, Inc. (NASDAQ:ZNTL) major shareholder Group Walters acquired 6,459,973 shares of Zentalis Pharmaceuticals stock in a transaction that occurred on Wednesday, December 31st. The shares were bought at an average price of $1.20 per share, with a total value of $7,751,967.60. Following the transaction, the insider directly owned 13,509,973 shares in the company, valued at approximately $16,211,967.60. This trade represents a 91.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Zentalis Pharmaceuticals Stock Up 17.4%

Zentalis Pharmaceuticals stock traded up $0.42 during trading hours on Thursday, hitting $2.84. 6,927,020 shares of the company traded hands, compared to its average volume of 4,316,173. The firm’s 50-day simple moving average is $1.40 and its two-hundred day simple moving average is $1.47. The firm has a market cap of $205.19 million, a P/E ratio of -1.37 and a beta of 1.75. Zentalis Pharmaceuticals, Inc. has a 1-year low of $1.01 and a 1-year high of $3.06.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.12. On average, equities research analysts predict that Zentalis Pharmaceuticals, Inc. will post -2.42 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Catalyst Funds Management Pty Ltd bought a new stake in Zentalis Pharmaceuticals in the second quarter valued at $31,000. Qube Research & Technologies Ltd purchased a new stake in shares of Zentalis Pharmaceuticals during the second quarter valued at approximately $37,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Zentalis Pharmaceuticals during the 2nd quarter worth $38,000. Corient Private Wealth LLC purchased a new position in Zentalis Pharmaceuticals in the second quarter valued at about $41,000. Finally, Voleon Capital Management LP bought a new position in Zentalis Pharmaceuticals during the third quarter valued at $41,000.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZNTL. Morgan Stanley cut their price objective on Zentalis Pharmaceuticals from $8.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Wall Street Zen raised Zentalis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Zentalis Pharmaceuticals in a research report on Wednesday, October 8th. Leerink Partners restated a “market perform” rating and set a $2.00 target price on shares of Zentalis Pharmaceuticals in a research report on Tuesday, November 11th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of Zentalis Pharmaceuticals in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.53.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics for oncology. Leveraging a proprietary structure-based drug discovery platform, the company designs selective inhibitors aimed at critical cancer targets. Zentalis’ research and development efforts center on delivering differentiated therapies that address unmet medical needs in solid tumors and hematologic malignancies.

The company’s lead product candidate, ZN-c3, is an orally administered inhibitor of the p53-MDM2 interaction, currently being evaluated in Phase I clinical trials for advanced solid tumors and hematologic cancers.