Morgan Stanley Boosts Zenas BioPharma (NASDAQ:ZBIO) Price Target to $37.00

Zenas BioPharma (NASDAQ:ZBIO) had its price objective raised by equities researchers at Morgan Stanley from $34.00 to $37.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 5.71% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $52.00 price target on shares of Zenas BioPharma in a research report on Monday, October 27th. Citigroup lifted their price objective on shares of Zenas BioPharma from $27.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. HC Wainwright boosted their target price on shares of Zenas BioPharma from $30.00 to $44.00 and gave the stock 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 report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Zenas BioPharma in a research report on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

Zenas BioPharma Stock Performance

ZBIO opened at $35.00 on Thursday. The business has a 50 day moving average price of $25.32 and a two-hundred day moving average price of $17.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.66 and a quick ratio of 5.23. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -6.01 and a beta of -1.51. Zenas BioPharma has a 1-year low of $5.83 and a 1-year high of $36.63.

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

Insiders Place Their Bets

In other news, major shareholder Sr One Capital Management, Llc purchased 126,315 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were acquired at an average price of $19.00 per share, for a total transaction of $2,399,985.00. Following the completion of the acquisition, the insider directly owned 1,917,895 shares of the company’s stock, valued at $36,440,005. The trade was a 7.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick G. Enright purchased 105,265 shares of Zenas BioPharma stock in a transaction that occurred on Thursday, October 9th. The stock was purchased at an average price of $19.00 per share, with a total value of $2,000,035.00. Following the transaction, the director owned 1,832,669 shares in the company, valued at $34,820,711. This represents a 6.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 923,035 shares of company stock valued at $17,628,163 over the last 90 days. 16.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZBIO. Federated Hermes Inc. raised its holdings in shares of 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 purchasing an additional 703,838 shares in the last quarter. Vanguard Group Inc. increased its position in 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 buying an additional 170,546 shares during the last quarter. Invesco Ltd. bought a new position in Zenas BioPharma during the third quarter valued at about $3,237,000. Jefferies Financial Group Inc. acquired a new stake in shares of Zenas BioPharma in the first quarter worth about $348,000. Finally, Nuveen LLC bought a new stake in shares of Zenas BioPharma during the 1st quarter worth about $250,000.

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.