Zenas BioPharma (NASDAQ:ZBIO) Trading 9.3% Higher – Here’s Why

Zenas BioPharma, Inc. (NASDAQ:ZBIO) shares shot up 9.3% on Wednesday . The stock traded as high as $27.48 and last traded at $27.7450. Approximately 921,229 shares were traded during trading, an increase of 9% from the average daily volume of 845,281 shares. The stock had previously closed at $25.38.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup reaffirmed a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, June 3rd. Zacks Research upgraded shares of Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Morgan Stanley increased their target price on shares of Zenas BioPharma from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, May 14th. Guggenheim raised their price target on shares of Zenas BioPharma from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.29.

Zenas BioPharma Price Performance

The firm has a 50 day moving average price of $19.76 and a two-hundred day moving average price of $22.97. The company has a market cap of $1.72 billion, a P/E ratio of -3.21 and a beta of -0.96. The company has a debt-to-equity ratio of 1.04, a quick ratio of 11.94 and a current ratio of 11.94.

Zenas BioPharma (NASDAQ:ZBIO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.01. During the same period in the prior year, the firm earned ($0.80) earnings per share. On average, analysts predict that Zenas BioPharma, Inc. will post -4.47 EPS for the current fiscal year.

Insider Activity

In other Zenas BioPharma news, CEO Leon O. Moulder, Jr. purchased 60,000 shares of the stock in a transaction dated Monday, May 18th. The shares were bought at an average price of $16.88 per share, with a total value of $1,012,800.00. Following the completion of the transaction, the chief executive officer directly owned 96,928 shares in the company, valued at approximately $1,636,144.64. This trade represents a 162.48% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 120,000 shares of company stock valued at $2,080,000 over the last 90 days. Insiders own 22.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZBIO. Bank of America Corp DE raised its holdings in Zenas BioPharma by 723.5% during the 1st quarter. Bank of America Corp DE now owns 388,347 shares of the company’s stock valued at $7,592,000 after acquiring an additional 341,187 shares during the period. Exome Asset Management LLC purchased a new position in shares of Zenas BioPharma in the first quarter valued at $1,578,000. Quantinno Capital Management LP purchased a new position in shares of Zenas BioPharma in the first quarter valued at $413,000. Sei Investments Co. bought a new stake in shares of Zenas BioPharma during the 1st quarter valued at $242,000. Finally, Walleye Capital LLC bought a new stake in shares of Zenas BioPharma during the 1st quarter valued at $2,448,000.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel therapies in oncology and infectious diseases. The company’s proprietary platform integrates structure-guided design, computational modeling and high-throughput screening to address challenging protein-protein interactions. Zenas BioPharma is advancing multiple preclinical and clinical-stage candidates aimed at providing new treatment options where current modalities may be limited by efficacy or safety concerns.

Founded in 2021 and headquartered in Cambridge, Massachusetts, Zenas BioPharma was built to streamline the drug discovery process from target identification through to IND-enabling studies.