Zura Bio (NASDAQ:ZURA) Shares Down 0.7% – Should You Sell?

Shares of Zura Bio Limited (NASDAQ:ZURA) dropped 0.7% on Friday. The company traded as low as $4.07 and last traded at $4.11. 2,953,782 shares traded hands during mid-day trading, an increase of 66% from the average daily volume of 1,780,652 shares. The stock had previously closed at $4.14.

Analysts Set New Price Targets

A number of research firms have issued reports on ZURA. Wedbush boosted their price target on Zura Bio from $15.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. William Blair started coverage on shares of Zura Bio in a report on Wednesday, July 8th. They issued an “outperform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Zura Bio in a research report on Monday, July 6th. Wall Street Zen raised shares of Zura Bio from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Guggenheim increased their price target on shares of Zura Bio from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Zura Bio Stock Performance

The company has a market cap of $393.86 million, a P/E ratio of -3.64 and a beta of 0.01. The firm’s fifty day moving average is $5.33 and its two-hundred day moving average is $5.11.

Zura Bio (NASDAQ:ZURA) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.21) EPS for the quarter. On average, equities research analysts expect that Zura Bio Limited will post -0.81 EPS for the current year.

Institutional Investors Weigh In On Zura Bio

Hedge funds have recently made changes to their positions in the company. Montanova Capital LLC raised its position in Zura Bio by 4.1% in the 2nd quarter. Montanova Capital LLC now owns 9,443,001 shares of the company’s stock worth $55,714,000 after purchasing an additional 376,000 shares during the period. EcoR1 Capital LLC bought a new position in Zura Bio in the 1st quarter valued at $7,019,000. Siren L.L.C. lifted its position in shares of Zura Bio by 187.3% during the first quarter. Siren L.L.C. now owns 3,734,866 shares of the company’s stock worth $22,222,000 after purchasing an additional 2,434,866 shares during the last quarter. Stempoint Capital LP purchased a new stake in shares of Zura Bio during the first quarter valued at $4,483,000. Finally, Bank of America Corp DE grew its holdings in shares of Zura Bio by 3,007.7% in the first quarter. Bank of America Corp DE now owns 136,523 shares of the company’s stock worth $812,000 after purchasing an additional 132,130 shares during the last quarter. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

About Zura Bio

Zura Bio, Inc is a clinical-stage biotechnology company focused on developing medicines for chronic immune-mediated diseases. The company’s research programs are designed to address conditions in which abnormal immune responses contribute to inflammation and tissue damage.

Zura Bio is advancing a pipeline of investigational antibody-based therapies for diseases including hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis and systemic sclerosis. Its programs target biological pathways involved in inflammation, with the goal of developing treatments for patients who may not respond adequately to existing therapies.