Insider Buying: Zenas BioPharma (NASDAQ:ZBIO) Director Acquires $999,991.00 in Stock

Zenas BioPharma, Inc. (NASDAQ:ZBIO) Director Hongbo Lu bought 58,823 shares of the stock in a transaction on Friday, September 13th. The shares were bought at an average price of $17.00 per share, with a total value of $999,991.00. Following the acquisition, the director owned 58,823 shares of the company’s stock, valued at $999,991. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hongbo Lu also recently made the following trade(s):

• On Tuesday, October 7th, Hongbo Lu bought 263,160 shares of Zenas BioPharma stock. The shares were bought at an average price of $19.00 per share, with a total value of $5,000,040.00.

Zenas BioPharma Stock Down 4.2%

Zenas BioPharma stock opened at $26.59 on Friday. The business has a fifty day moving average of $18.86 and a two-hundred day moving average of $13.39. The firm has a market cap of $1.12 billion and a P/E ratio of -7.49. Zenas BioPharma, Inc. has a twelve month low of $5.83 and a twelve month high of $29.73.

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

Analysts Set New Price Targets

ZBIO has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zenas BioPharma in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Zenas BioPharma in a research report on Thursday. Wall Street Zen downgraded Zenas BioPharma from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Finally, Wedbush upped their price target on Zenas BioPharma from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Hedge Funds Weigh In On Zenas BioPharma

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Zenas BioPharma by 32.3% in the 2nd quarter. Bank of America Corp DE now owns 13,991 shares of the company’s stock valued at $136,000 after acquiring an additional 3,412 shares during the period. Sei Investments Co. acquired a new stake in Zenas BioPharma during the 2nd quarter worth about $118,000. Federated Hermes Inc. grew 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. Rhumbline Advisers grew its position in Zenas BioPharma by 71.3% during the 2nd quarter. Rhumbline Advisers now owns 19,721 shares of the company’s stock worth $191,000 after purchasing an additional 8,207 shares during the period. Finally, Intech Investment Management LLC grew its position in Zenas BioPharma by 13.9% during the 2nd quarter. Intech Investment Management LLC now owns 13,206 shares of the company’s stock worth $128,000 after purchasing an additional 1,607 shares during the period.

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.