Morgan Stanley Increases Zenas BioPharma (NASDAQ:ZBIO) Price Target to $37.00

Zenas BioPharma (NASDAQ:ZBIO) had its target price increased by equities research analysts at Morgan Stanley from $34.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 4.17% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Wedbush reaffirmed an “outperform” rating and set a $45.00 target price (up from $40.00) on shares of Zenas BioPharma in a report on Monday, October 27th. Jefferies Financial Group reissued a “buy” rating and set a $52.00 target price on shares of Zenas BioPharma in a research note on Monday, October 27th. HC Wainwright upped their target price on Zenas BioPharma from $30.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Citigroup lifted their price objective on Zenas BioPharma from $27.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Zenas BioPharma currently has a consensus rating of “Moderate Buy” and an average target price of $44.83.

Zenas BioPharma Trading Down 0.8%

Shares of NASDAQ ZBIO traded down $0.28 during trading on Thursday, reaching $35.52. 149,205 shares of the company traded hands, compared to its average volume of 242,133. The stock has a market cap of $1.50 billion, a P/E ratio of -6.10 and a beta of -1.51. The firm’s fifty day simple moving average is $24.66 and its 200 day simple moving average is $16.75. Zenas BioPharma has a 12-month low of $5.83 and a 12-month high of $36.63.

Zenas BioPharma (NASDAQ:ZBIO) last posted its earnings results on Wednesday, November 12th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.35).

Insider Buying and Selling

In other Zenas BioPharma news, major shareholder Sr One Capital Management, Llc purchased 126,315 shares of the stock in a transaction dated Thursday, October 9th. The stock was acquired at an average cost of $19.00 per share, for a total transaction of $2,399,985.00. Following the acquisition, the insider owned 1,917,895 shares in the company, valued at $36,440,005. This trade represents a 7.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Raleigh Nunn acquired 63,158 shares of Zenas BioPharma stock in a transaction that occurred on Thursday, October 9th. The stock was bought at an average price of $19.00 per share, for a total transaction of $1,200,002.00. Following the completion of the acquisition, the director owned 1,173,395 shares in the company, valued at $22,294,505. This trade represents a 5.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 923,035 shares of company stock valued at $17,628,163. 16.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zenas BioPharma

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in Zenas BioPharma in the 3rd quarter valued at about $30,000. New York State Common Retirement Fund purchased a new position in shares of Zenas BioPharma in the first quarter valued at approximately $49,000. PNC Financial Services Group Inc. increased its stake in Zenas BioPharma by 41.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company’s stock worth $89,000 after buying an additional 2,679 shares during the period. Sei Investments Co. purchased a new stake in Zenas BioPharma during the 2nd quarter worth approximately $118,000. Finally, Intech Investment Management LLC lifted its holdings in Zenas BioPharma by 13.9% during the 2nd quarter. Intech Investment Management LLC now owns 13,206 shares of the company’s stock worth $128,000 after buying an additional 1,607 shares in the last quarter.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage global biopharmaceutical company, which engages in the development and commercialization of transformative immunology-based therapies for patients. The company was founded by Lonnie O. Moulder Jr on November 12, 2019 and is headquartered in Waltham, MA.