Zenas BioPharma (NASDAQ:ZBIO) Shares Climb 3.3% – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price was up 3.3% during mid-day trading on Wednesday. The stock traded as high as $27.82 and last traded at $27.8280. Approximately 15,829 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 817,610 shares. The stock had previously closed at $26.94.

Wall Street Analysts Forecast Growth

ZBIO has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $45.00 price objective on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Guggenheim reaffirmed a “buy” rating and set a $55.00 target price on shares of Zenas BioPharma in a report on Wednesday, September 30th. HC Wainwright reiterated a “buy” rating and issued a $44.00 price target on shares of Zenas BioPharma in a research report on Wednesday, September 30th. Morgan Stanley lifted their price target 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. Finally, Citigroup boosted their price objective on Zenas BioPharma from $41.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Zenas BioPharma Price Performance

The company has a market cap of $1.71 billion, a PE ratio of -2.92 and a beta of -0.90. The stock has a fifty day moving average price of $30.89 and a 200-day moving average price of $25.28. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93.

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

Institutional Trading of Zenas BioPharma

Several institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP acquired a new stake in shares of Zenas BioPharma during the 2nd quarter valued at $329,000. Squarepoint Ops LLC increased its stake in shares of Zenas BioPharma by 192.0% in the second quarter. Squarepoint Ops LLC now owns 125,185 shares of the company’s stock worth $3,177,000 after acquiring an additional 82,311 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Zenas BioPharma by 143.4% in the second 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 acquiring an additional 22,267 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 acquiring an additional 347,766 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Zenas BioPharma during the 2nd quarter worth about $31,247,000.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for patients with serious autoimmune diseases. The company’s research is centered on medicines designed to modulate the immune system while potentially avoiding the broad immune-cell depletion associated with some existing treatments.

Zenas’ lead product candidate is obexelimab, an investigational monoclonal antibody designed to bind CD19 and FcγRIIb receptors on B cells. Through this mechanism, obexelimab is intended to inhibit B-cell activity without eliminating the cells.