Zenas BioPharma (NASDAQ:ZBIO) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Zenas BioPharma (NASDAQ:ZBIO) from a sell rating to a hold rating in a research report released on Saturday.

ZBIO has been the topic of several other reports. Citigroup lifted their price target on shares of Zenas BioPharma from $27.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Wedbush reissued an “outperform” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Zenas BioPharma in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Zenas BioPharma in a research report on Thursday, October 30th. HC Wainwright increased their price target on Zenas BioPharma from $30.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Finally, Morgan Stanley boosted their price target on Zenas BioPharma from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.33.

Zenas BioPharma Stock Performance

Shares of Zenas BioPharma stock opened at $33.61 on Friday. The company has a market capitalization of $1.42 billion, a PE ratio of -5.77 and a beta of -1.51. The company has a 50-day simple moving average of $23.60 and a two-hundred day simple moving average of $16.23. Zenas BioPharma has a one year low of $5.83 and a one year high of $34.33.

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

Insider Buying and Selling

In other news, Director Patrick G. Enright acquired 105,265 shares of Zenas BioPharma stock in a transaction dated Thursday, October 9th. The stock was purchased at an average cost of $19.00 per share, for a total transaction of $2,000,035.00. Following the completion of the purchase, the director directly owned 1,832,669 shares in the company, valued at $34,820,711. This trade represents a 6.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hongbo Lu bought 263,160 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were purchased at an average cost of $19.00 per share, with a total value of $5,000,040.00. Following the acquisition, the director directly owned 321,983 shares of the company’s stock, valued at approximately $6,117,677. This trade represents a 447.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 923,035 shares of company stock worth $17,628,163 over the last three months. Corporate insiders own 16.50% of the company’s stock.

Hedge Funds Weigh In On Zenas BioPharma

A number of institutional investors have recently bought and sold shares of ZBIO. Federated Hermes Inc. lifted its stake in Zenas BioPharma by 60.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,861,838 shares of the company’s stock valued at $18,041,000 after acquiring an additional 703,838 shares during the period. Vanguard Group Inc. raised its holdings in shares of Zenas BioPharma by 17.2% during the third quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock worth $25,813,000 after purchasing an additional 170,546 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Zenas BioPharma during the first quarter valued at $348,000. Nuveen LLC acquired a new position in Zenas BioPharma during the first quarter valued at $250,000. Finally, Geode Capital Management LLC boosted its holdings in Zenas BioPharma by 4.6% in the second quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock valued at $3,621,000 after purchasing an additional 16,461 shares during the last quarter.

Zenas BioPharma Company Profile

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.