Zenas BioPharma (NASDAQ:ZBIO) Rating Increased to Hold at Wall Street Zen

Zenas BioPharma (NASDAQ:ZBIO) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

ZBIO has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of Zenas BioPharma from $27.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. HC Wainwright upped their price target on Zenas BioPharma from $30.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Morgan Stanley lifted their price objective on Zenas BioPharma from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Zenas BioPharma in a research report on Thursday, October 30th. Finally, Wedbush restated an “outperform” rating and issued a $45.00 price target (up previously from $40.00) on shares of Zenas BioPharma in a research report on Monday, October 27th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.33.

Zenas BioPharma Stock Up 3.5%

Shares of Zenas BioPharma stock traded up $1.15 during trading on Friday, reaching $33.61. The company’s stock had a trading volume of 338,777 shares, compared to its average volume of 590,538. The business has a 50 day moving average price of $23.60 and a 200-day moving average price of $16.19. Zenas BioPharma has a 12-month low of $5.83 and a 12-month high of $34.33. The company has a market capitalization of $1.42 billion, a P/E ratio of -5.77 and a beta of -1.51.

Zenas BioPharma (NASDAQ:ZBIO) last released its earnings results on Tuesday, August 12th. The company reported ($1.25) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.23).

Insider Buying and Selling

In other news, Director Fairmount Funds Management Llc bought 316,219 shares of Zenas BioPharma stock in a transaction on Tuesday, October 7th. The shares were bought at an average cost of $19.00 per share, for a total transaction of $6,008,161.00. Following the acquisition, the director owned 2,209,025 shares in the company, valued at approximately $41,971,475. This trade represents a 16.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patrick G. Enright purchased 105,265 shares of the firm’s stock in a transaction on Thursday, October 9th. The shares were purchased at an average cost of $19.00 per share, for a total transaction of $2,000,035.00. Following the completion of the purchase, the director directly owned 1,832,669 shares in the company, valued at $34,820,711. The trade was a 6.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 923,035 shares of company stock valued at $17,628,163. Company insiders own 16.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZBIO. Federated Hermes Inc. boosted its position in Zenas BioPharma by 60.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock worth $18,041,000 after purchasing an additional 703,838 shares during the period. Vanguard Group Inc. boosted its position in shares of Zenas BioPharma by 17.2% in the third quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock worth $25,813,000 after buying an additional 170,546 shares during the period. Geode Capital Management LLC boosted its position in shares of Zenas BioPharma by 4.6% in the second quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock worth $3,621,000 after buying an additional 16,461 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Zenas BioPharma in the first quarter valued at about $348,000. Finally, Nuveen LLC purchased a new stake in shares of Zenas BioPharma during the 1st quarter valued at about $250,000.

About Zenas BioPharma

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.