Zenas BioPharma (NASDAQ:ZBIO) Sets New 1-Year High – Here’s What Happened

Zenas BioPharma, Inc. (NASDAQ:ZBIO)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $36.70 and last traded at $36.58, with a volume of 146297 shares. The stock had previously closed at $35.00.

Wall Street Analysts Forecast Growth

ZBIO has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Zenas BioPharma in a report on Thursday, October 30th. Citigroup increased their target price on shares of Zenas BioPharma from $27.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded shares of Zenas BioPharma from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Jefferies Financial Group restated a “buy” rating and issued a $52.00 price target on shares of Zenas BioPharma in a report on Monday, October 27th. Finally, Morgan Stanley raised their price objective on Zenas BioPharma from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.83.

Zenas BioPharma Stock Performance

The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -6.26 and a beta of -1.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.66 and a quick ratio of 5.66. The stock’s 50-day moving average is $25.32 and its 200-day moving average is $17.13.

Zenas BioPharma (NASDAQ:ZBIO) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.35).

Insider Activity at Zenas BioPharma

In other Zenas BioPharma news, Director Hongbo Lu bought 263,160 shares of Zenas BioPharma stock in a transaction that occurred on Tuesday, October 7th. The shares were acquired at an average price of $19.00 per share, for a total transaction of $5,000,040.00. Following the acquisition, the director owned 321,983 shares of the company’s stock, valued at $6,117,677. The trade was a 447.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jason Raleigh Nunn purchased 63,158 shares of the stock in a transaction that occurred on Thursday, October 9th. The stock was bought at an average price of $19.00 per share, with a total value of $1,200,002.00. Following the completion of the acquisition, the director owned 1,173,395 shares in the company, valued at $22,294,505. This represents a 5.69% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 923,035 shares of company stock valued at $17,628,163 over the last quarter. Company insiders own 16.50% of the company’s stock.

Hedge Funds Weigh In On Zenas BioPharma

A number of institutional investors and hedge funds have recently bought and sold shares of ZBIO. Bank of America Corp DE grew its position in Zenas BioPharma by 5.8% in the third quarter. Bank of America Corp DE now owns 14,809 shares of the company’s stock valued at $329,000 after acquiring an additional 818 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Zenas BioPharma by 12.2% during the 3rd quarter. Alliancebernstein L.P. now owns 18,350 shares of the company’s stock valued at $407,000 after purchasing an additional 1,990 shares in the last quarter. Creative Planning acquired a new stake in Zenas BioPharma during the 3rd quarter valued at $264,000. Two Sigma Investments LP increased its stake in Zenas BioPharma by 3.9% during the 3rd quarter. Two Sigma Investments LP now owns 20,382 shares of the company’s stock worth $452,000 after buying an additional 765 shares during the period. Finally, Invesco Ltd. acquired a new position in Zenas BioPharma in the 3rd quarter worth $3,237,000.

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.