Zenas BioPharma (NASDAQ:ZBIO) Issues Quarterly Earnings Results

Zenas BioPharma (NASDAQ:ZBIO) released its quarterly earnings results on Thursday. The company reported ($1.65) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.45), FiscalAI reports. The firm had revenue of $10.00 million for the quarter.

Zenas BioPharma Stock Performance

Shares of NASDAQ ZBIO traded down $2.53 during mid-day trading on Thursday, reaching $25.93. 824,022 shares of the company’s stock were exchanged, compared to its average volume of 790,394. The firm has a 50-day moving average price of $29.21 and a two-hundred day moving average price of $25.07. The company has a debt-to-equity ratio of 1.57, a current ratio of 9.93 and a quick ratio of 9.93. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.88 and a beta of -0.88. Zenas BioPharma has a 52 week low of $13.50 and a 52 week high of $44.60.

Hedge Funds Weigh In On Zenas BioPharma

Several institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its stake in Zenas BioPharma by 1,090.0% in the third quarter. Sterling Capital Management LLC now owns 1,190 shares of the company’s stock valued at $32,000 after purchasing an additional 1,090 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Zenas BioPharma in the second quarter valued at $49,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Zenas BioPharma during the 3rd quarter valued at about $90,000. Jupiter Topco LLC bought a new stake in Zenas BioPharma during the 2nd quarter worth approximately $201,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Zenas BioPharma in the second quarter worth $204,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ZBIO shares. Morgan Stanley initiated coverage on shares of Zenas BioPharma in a research report on Tuesday, October 20th. They issued an “equal weight” rating and a $32.00 target price for the company. Citigroup reissued a “buy” rating on shares of Zenas BioPharma in a research report on Wednesday, October 28th. Guggenheim reissued a “buy” rating and set a $55.00 price target on shares of Zenas BioPharma in a report on Wednesday, September 30th. HC Wainwright reiterated a “buy” rating and issued a $44.00 target price on shares of Zenas BioPharma in a research report on Tuesday, October 13th. Finally, Weiss Ratings raised Zenas BioPharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 23rd. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zenas BioPharma currently has an average rating of “Moderate Buy” and an average target price of $46.71.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biopharmaceutical company focused on developing immune-based therapies for autoimmune diseases and other serious immune-mediated conditions. The company’s research is centered on treatments designed to modulate B-cell activity and restore balance to the immune system.

Zenas’ lead product candidate is obexelimab, an investigational bifunctional antibody designed to bind CD19 on B cells and Fc gamma receptor IIb. By engaging both targets, obexelimab is intended to inhibit pathogenic B-cell activity without broadly depleting B cells.