Zentalis Pharmaceuticals (NASDAQ:ZNTL) Shares Gap Up Following Strong Earnings

Zentalis Pharmaceuticals, Inc. (NASDAQ:ZNTL)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $11.72, but opened at $12.43. Zentalis Pharmaceuticals shares last traded at $11.97, with a volume of 21,831 shares.

The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.91. The firm had revenue of $40.56 million for the quarter, compared to the consensus estimate of $35.00 million. During the same quarter last year, the firm earned ($1.07) EPS.

Wall Street Analysts Forecast Growth

ZNTL has been the topic of a number of analyst reports. HC Wainwright cut their target price on Zentalis Pharmaceuticals from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Wedbush increased their target price on Zentalis Pharmaceuticals from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus cut their price target on shares of Zentalis Pharmaceuticals from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zentalis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $37.14.

Insider Transactions at Zentalis Pharmaceuticals

In related news, insider Diana Hausman sold 3,356 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $12.62, for a total value of $42,352.72. Following the completion of the transaction, the insider now owns 373,876 shares of the company’s stock, valued at $4,718,315.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Zentalis Pharmaceuticals news, insider Diana Hausman sold 3,356 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $12.62, for a total value of $42,352.72. Following the completion of the transaction, the insider now directly owns 373,876 shares in the company, valued at $4,718,315.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Melissa B. Epperly sold 2,573 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $11.44, for a total transaction of $29,435.12. Following the sale, the chief financial officer now directly owns 451,449 shares of the company’s stock, valued at $5,164,576.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,102 shares of company stock valued at $85,207. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Zentalis Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its stake in Zentalis Pharmaceuticals by 132.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,809 shares of the company’s stock worth $36,000 after buying an additional 1,030 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Zentalis Pharmaceuticals during the fourth quarter valued at about $38,000. Tower Research Capital LLC TRC raised its position in shares of Zentalis Pharmaceuticals by 252.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the company’s stock valued at $55,000 after purchasing an additional 2,589 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Zentalis Pharmaceuticals by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,989 shares of the company’s stock worth $91,000 after purchasing an additional 1,519 shares during the last quarter. Finally, OneAscent Financial Services LLC acquired a new position in Zentalis Pharmaceuticals during the 4th quarter valued at approximately $156,000.

Zentalis Pharmaceuticals Price Performance

The firm has a market cap of $889.05 million, a PE ratio of -2.74 and a beta of 1.82. The stock’s fifty day simple moving average is $13.70 and its 200-day simple moving average is $13.43.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics for the treatment of various cancers. Its products candidatures include the ZN-c3, an inhibitor of WEE1, a protein tyrosine kinase for the treatment of inhibitor for advanced solid tumors and hematological malignancies; in Phase 2 clinical trial as a monotherapy for the treatment of uterine serous carcinoma indications; Phase 2 clinical trial in Cyclin E1 driven high-grade serous ovarian cancer, fallopian tube, or primary peritoneal cancer; Phase 1/2 clinical trial in combination with PARPi for platinum-resistant ovarian cancer; Phase 1b clinical trial in combination with chemotherapy in platinum-resistant ovarian, and peritoneal or fallopian tube cancer; Phase 1/2 clinical trial in combination with chemotherapy in relapsed or refractory osteosarcoma; Phase 1/2 clinical trial with encorafenib and cetuximab for mutant metastatic colorectal cancer; and Phase 1/2 clinical trial in combination with chemotherapy in pancreatic cancer.