Zenas BioPharma (NASDAQ:ZBIO) Sets New 1-Year High – Should You Buy?

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s share price hit a new 52-week high on Monday . The stock traded as high as $34.94 and last traded at $34.94, with a volume of 2705 shares traded. The stock had previously closed at $33.61.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ZBIO shares. Wall Street Zen raised Zenas BioPharma from a “sell” rating to a “hold” rating in a report on Saturday. HC Wainwright raised their target price on shares of Zenas BioPharma from $30.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Zenas BioPharma in a report on Thursday, October 30th. Jefferies Financial Group reissued a “buy” rating and issued a $52.00 price objective on shares of Zenas BioPharma in a research note on Monday, October 27th. Finally, Wedbush restated an “outperform” rating and set a $45.00 target price (up previously from $40.00) on shares of Zenas BioPharma in a research note on Monday, October 27th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.33.

Zenas BioPharma Price Performance

The firm has a market cap of $1.44 billion, a P/E ratio of -5.89 and a beta of -1.53. The company’s 50-day simple moving average is $23.60 and its 200 day simple moving average is $16.28.

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

Insider Buying and Selling

In related news, Director Jason Raleigh Nunn acquired 63,158 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was bought at an average price of $19.00 per share, for a total transaction of $1,200,002.00. Following the acquisition, the director directly owned 1,173,395 shares of the company’s stock, valued at $22,294,505. This represents a 5.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hongbo Lu bought 263,160 shares of the company’s stock in a transaction on Tuesday, October 7th. The stock was bought at an average price of $19.00 per share, for a total transaction of $5,000,040.00. Following the completion of the purchase, the director directly owned 321,983 shares in the company, valued at approximately $6,117,677. This represents a 447.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 923,035 shares of company stock worth $17,628,163 over the last three months. 16.50% of the stock is currently owned by company insiders.

Institutional Trading of Zenas BioPharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new stake in Zenas BioPharma during the first quarter worth $49,000. PNC Financial Services Group Inc. increased its position in shares of Zenas BioPharma by 41.2% during the second quarter. PNC Financial Services Group Inc. now owns 9,179 shares of the company’s stock worth $89,000 after purchasing an additional 2,679 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Zenas BioPharma during the 2nd quarter valued at $118,000. Intech Investment Management LLC lifted its holdings in shares of Zenas BioPharma by 13.9% during the 2nd quarter. Intech Investment Management LLC now owns 13,206 shares of the company’s stock valued at $128,000 after purchasing an additional 1,607 shares during the last quarter. Finally, Bank of America Corp DE boosted 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 worth $136,000 after purchasing an additional 3,412 shares in 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.