ZBIO
Zenas BioPharma, Inc.
$19.80
+11.49%
$1.3B
No data for this timeframe.
Vol
Market Cap$1.3B
Cap SizeSmall Cap
Analyst ConsensusStrong Buy (86%)
Inst. Holders50 funds
Inst. Value$580.0M
Inst. Activity15 buys / 6 sells
Insider Activity12B / 0S
Insider Net $$9.5M
SEC Reports7
Press Releases5
Recent Activity
Jun 11, 2026
other
Zenas BioPharma to Present at the H.C. Wainwright 7th Annual Neuro Perspectives Expert Summit
<p align="justify">WALTHAM, Mass., June 11, 2026 (GLOBE NEWSWIRE) -- Zenas BioPharma, Inc. (“Zenas
May 28, 2026
Press
Zenas BioPharma submitted a Biologics License Application (BLA) to the FDA for obexelimab in IgG4-RD, based on positive
Impact 7/10
May 19, 2026
Press
Zenas BioPharma announced that the Phase 3 INDIGO trial of obexelimab in IgG4-Related Disease met its primary endpoint a
Impact 7/10
May 18, 2026
Insider
MOULDER LEON O JR bought 60,000 shares
Chief Executive Officer @ $16.88 ($1.0M)
May 13, 2026
SEC
Zenas BioPharma reported Q1 2026 results: net loss widened to $81.0M from $33.6M a year ago, with zero revenue vs $10M i
8-K — Impact 4/10
May 13, 2026
SEC
Zenas BioPharma reported Q1 2026 net loss of $81.0M ($1.46/share), significantly wider than the $33.6M loss a year ago,
PRESS-RELEASE — Impact 5/10
Apr 29, 2026
Insider
MOULDER LEON O JR bought 35,000 shares
Chief Executive Officer @ $17.62 ($616.7K)
Apr 28, 2026
Insider
MOULDER LEON O JR bought 25,000 shares
Chief Executive Officer @ $18.02 ($450.5K)
Price Targets
$42.13
+112.8% upside
Strong Buy
Current $19.80
Low $22.00
Median $44.50
High $55.00
8 analysts
$22.00
$55.00
Analyst Ratings
7Strong Buy
5Buy
2Hold
0Sell
0Strong Sell
Recent Analyst Actions
| Date | Firm | Action | Rating |
|---|---|---|---|
| May 15, 2026 | HC Wainwright & Co. | REITERATE | Buy → Buy |
| May 14, 2026 | Morgan Stanley | MAINTAIN | Equal-Weight → Equal-Weight |
| Mar 17, 2026 | Citigroup | MAINTAIN | Buy → Buy |
| Mar 17, 2026 | Guggenheim | MAINTAIN | Buy → Buy |
| Mar 17, 2026 | Morgan Stanley | MAINTAIN | Equal-Weight → Equal-Weight |
Earnings Estimates
| Period | EPS Est. | Range | Growth | # |
|---|---|---|---|---|
| Current Q | $-0.76 ▲ +51.0% | $-1.46 — $-0.05 | 40% YoY | 2 |
| Next Q | $-1.31 ▲ +2.2% | $-1.46 — $-1.16 | -7% YoY | 2 |
| Current FY | $-4.33 ▲ +24.5% | $-5.06 — $-3.53 | 10% YoY | 3 |
| Next FY | $-2.27 ▲ +55.0% | $-4.34 — $-0.19 | 48% YoY | 2 |
Latest Reports
BULLISH
Press
7/10
Zenas BioPharma submitted a Biologics License Application (BLA) to the FDA for obexelimab in IgG4-RD, based on positive
May 28, 2026
NEUTRAL
8-K
4/10
Zenas BioPharma reported Q1 2026 results: net loss widened to $81.0M from $33.6M a year ago, with zero revenue vs $10M i
May 13, 2026
NEUTRAL
PRESS-RELEASE
5/10
Zenas BioPharma reported Q1 2026 net loss of $81.0M ($1.46/share), significantly wider than the $33.6M loss a year ago,
May 13, 2026
Top Institutional Holders
| Fund | Value | Move |
|---|---|---|
| FMR LLC | $177.6M | ADD |
| FEDERATED HERMES, INC. | $61.1M | ADD |
| Polar Capital Holdings Plc | $49.8M | DOUBLED |
| Capital International Investors | $47.6M | NEW |
| BlackRock, Inc. | $39.8M | ADD |
Recent Insider Trades
| Date | Insider | Type | Value |
|---|---|---|---|
| May 18, 2026 | MOULDER LEON | BUY | $1.0M |
| Apr 29, 2026 | MOULDER LEON | BUY | $616.7K |
| Apr 28, 2026 | MOULDER LEON | BUY | $450.5K |
| Mar 31, 2026 | Fairmount Funds | BUY | $3.0M |
| Mar 31, 2026 | Lu Hongbo | BUY | $1.5M |
50 institutional holders with $580.0M total value (28,902,052 shares) as of 2026-Q1. Top holders: FMR, FEDERATED, Polar. Net buying activity: 15 institutions added/increased vs 6 reduced.
Top Institutional Holders — 2026-Q1
| # | Fund | Shares | Value | % of Tracked | Last Move |
|---|---|---|---|---|---|
| 1 | FMR LLC | 9,082,000 | $177.6M | 30.6% | ADD +59.8% |
| 2 | FEDERATED HERMES, INC. | 3,127,031 | $61.1M | 10.5% | ADD +45.9% |
| 3 | Polar Capital Holdings Plc | 2,548,444 | $49.8M | 8.6% | DOUBLED +141.0% |
| 4 | Capital International Investors | 2,434,000 | $47.6M | 8.2% | NEW |
| 5 | BlackRock, Inc. | 2,037,548 | $39.8M | 6.9% | ADD +43.9% |
| 6 | ALLIANCEBERNSTEIN L.P. | 897,321 | $32.6M | 5.6% | — |
| 7 | STATE STREET CORP | 1,470,923 | $28.8M | 5.0% | DOUBLED +235.6% |
| 8 | WELLINGTON MANAGEMENT GROUP LLP | 1,246,053 | $24.4M | 4.2% | ADD +45.7% |
| 9 | VANGUARD CAPITAL MANAGEMENT LLC | 1,245,391 | $24.3M | 4.2% | — |
| 10 | BALYASNY ASSET MANAGEMENT L.P. | 667,070 | $13.0M | 2.2% | DOUBLED +245.4% |
| 11 | Woodline Partners LP | 590,525 | $11.5M | 2.0% | NEW |
| 12 | MARSHALL WACE, LLP | 501,928 | $9.8M | 1.7% | DOUBLED +6969.4% |
| 13 | BANK OF AMERICA CORP /DE/ | 388,347 | $7.6M | 1.3% | DOUBLED +723.5% |
| 14 | GOLDMAN SACHS GROUP INC | 381,461 | $7.5M | 1.3% | — |
| 15 | TWO SIGMA INVESTMENTS, LP | 275,056 | $5.4M | 0.9% | TRIM -25.9% |
| 16 | VANGUARD PORTFOLIO MANAGEMENT LLC | 251,410 | $4.9M | 0.8% | — |
| 17 | JENNISON ASSOCIATES LLC | 250,000 | $4.9M | 0.8% | — |
| 18 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 224,402 | $4.4M | 0.8% | ADD +46.0% |
| 19 | VANGUARD FIDUCIARY TRUST CO | 179,388 | $3.5M | 0.6% | — |
| 20 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 122,900 | $2.4M | 0.4% | — |
Recent Position Changes
| Fund | Action | Prev Shares | Curr Shares | Change % | Value | Quarter |
|---|---|---|---|---|---|---|
| Polar Capital Holdings Plc | DOUBLED | 1,057,609 | 2,548,444 | +141.0% | $49.8M | 2026-Q1 |
| Capital International Investors | NEW | — | 2,434,000 | — | $47.6M | 2026-Q1 |
| STATE STREET CORP | DOUBLED | 438,294 | 1,470,923 | +235.6% | $28.8M | 2026-Q1 |
| WELLINGTON MANAGEMENT GROUP LLP | ADD | 855,334 | 1,246,053 | +45.7% | $24.4M | 2026-Q1 |
| BALYASNY ASSET MANAGEMENT L.P. | DOUBLED | 193,153 | 667,070 | +245.4% | $13.0M | 2026-Q1 |
| Woodline Partners LP | NEW | — | 590,525 | — | $11.5M | 2026-Q1 |
| MARSHALL WACE, LLP | DOUBLED | 7,100 | 501,928 | +6969.4% | $9.8M | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ | DOUBLED | 47,160 | 388,347 | +723.5% | $7.6M | 2026-Q1 |
| Invesco Ltd. | TRIM | 187,968 | 113,479 | -39.6% | $2.2M | 2026-Q1 |
| MORGAN STANLEY | TRIM | 128,335 | 93,396 | -27.2% | $1.8M | 2026-Q1 |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | TRIM | 133,439 | 77,493 | -41.9% | $1.5M | 2026-Q1 |
| Nuveen, LLC | ADD | 50,850 | 67,770 | +33.3% | $1.3M | 2026-Q1 |
| SCHRODER INVESTMENT MANAGEMENT GROUP | TRIM | 50,636 | 33,697 | -33.5% | $614.1K | 2026-Q1 |
| STATE OF WISCONSIN INVESTMENT BOARD | DOUBLED | 10,221 | 20,814 | +103.6% | $406.9K | 2026-Q1 |
| DEUTSCHE BANK AG\ | ADD | 12,781 | 19,266 | +50.7% | $376.6K | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | ADD | 8,780 | 14,386 | +63.8% | $276.8K | 2026-Q1 |
| MetLife Investment Management, LLC | ADD | 10,100 | 12,909 | +27.8% | $252.4K | 2026-Q1 |
| Russell Investments Group, Ltd. | DOUBLED | 1,345 | 2,721 | +102.3% | $53.2K | 2026-Q1 |
| NISA INVESTMENT ADVISORS, LLC | DOUBLED | 115 | 2,415 | +2000.0% | $47.2K | 2026-Q1 |
| CWM, LLC | TRIM | 2,178 | 1,472 | -32.4% | $28.8K | 2026-Q1 |
| Allworth Financial LP | TRIM | 47 | 26 | -44.7% | $509.00 | 2026-Q1 |
| FMR LLC | ADD | 4,820,370 | 7,704,255 | +59.8% | $279.7M | 2025-Q4 |
| FEDERATED HERMES, INC. | ADD | 1,861,838 | 2,715,578 | +45.9% | $98.6M | 2025-Q4 |
| BlackRock, Inc. | ADD | 1,228,641 | 1,767,518 | +43.9% | $64.2M | 2025-Q4 |
| Polar Capital Holdings Plc | NEW | — | 1,057,609 | — | $38.4M | 2025-Q4 |
4 unique insiders with 12 transactions. Net insider value: $9.5M ($9.5M bought, $0.00 sold).
Insider Transactions
| Date | Insider | Title | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| May 18, 2026 | MOULDER LEON O JR | Chief Executive Officer | BUY | 60,000 | $16.88 | $1.0M |
| Apr 29, 2026 | MOULDER LEON O JR | Chief Executive Officer | BUY | 35,000 | $17.62 | $616.7K |
| Apr 28, 2026 | MOULDER LEON O JR | Chief Executive Officer | BUY | 25,000 | $18.02 | $450.5K |
| Mar 31, 2026 | Fairmount Funds Management LLC | Director | BUY | 150,000 | $20.00 | $3.0M |
| Mar 31, 2026 | Lu Hongbo | Director | BUY | 75,000 | $20.00 | $1.5M |
| Mar 31, 2026 | MOULDER LEON O JR | Chief Executive Officer | BUY | 34,000 | $19.31 | $656.5K |
| Mar 31, 2026 | Lu Hongbo | Director | BUY | 3,768 | $18.63 | $70.2K |
| Mar 30, 2026 | MOULDER LEON O JR | Chief Executive Officer | BUY | 20,000 | $18.23 | $364.6K |
| Feb 13, 2026 | Allen Patricia L | Director | BUY | 4,160 | $26.36 | $109.7K |
| Feb 12, 2026 | Allen Patricia L | Director | BUY | 5,000 | $23.77 | $118.8K |
| Feb 11, 2026 | Lu Hongbo | Director | BUY | 25,985 | $22.50 | $584.7K |
| Feb 2, 2026 | MOULDER LEON O JR | Chief Executive Officer | BUY | 57,000 | $17.96 | $1.0M |
7 SEC filing reports analyzed. Sentiment: 2 bullish, 0 bearish, 2 mixed, 3 neutral. Avg impact: 5.1/10.
NEUTRAL
8-K
4/10
Zenas BioPharma reported Q1 2026 results: net loss widened to $81.0M from $33.6M a year ago, with ze
May 13, 2026
NEUTRAL
PRESS-RELEASE
5/10
Zenas BioPharma reported Q1 2026 net loss of $81.0M ($1.46/share), significantly wider than the $33.
May 13, 2026
MIXED
CLUSTER
6/10
Analysis based on filing metadata only — document content was unavailable. However, a recent insider
Apr 1, 2026
MIXED
424B5
6/10
Zenas BioPharma is conducting a concurrent offering of convertible senior notes and common stock to
Mar 26, 2026
BULLISH
424B5
7/10
Zenas BioPharma is conducting a public offering of its common stock while simultaneously pursuing a
Mar 26, 2026
NEUTRAL
DEFA14A
2/10
Zenas BioPharma, Inc. (ZBIO) has filed a definitive proxy statement (DEFA14A) for its 2026 Annual Me
Mar 16, 2026
BULLISH
INST-CLUSTER
6/10
Three major passive institutions — Morgan Stanley, Wells Fargo, and Schwab — significantly increased
Feb 28, 2026
BULLISH
7/10
Zenas BioPharma submitted a Biologics License Application (BLA) to the FDA for obexelimab in IgG4-RD
May 28, 2026
BULLISH
7/10
Zenas BioPharma announced that the Phase 3 INDIGO trial of obexelimab in IgG4-Related Disease met it
May 19, 2026
NEUTRAL
4/10
Zenas BioPharma announced first subject dosed in Phase 1 trial of ZB021, an oral IL-17AA/AF inhibito
May 13, 2026
NEUTRAL
6/10
Zenas BioPharma announced a $200 million convertible notes offering and a $100 million equity offeri
Mar 27, 2026
MIXED
6/10
Zenas BioPharma reported its 2025 financial results alongside significant pipeline progress, highlig
Mar 16, 2026
Current analyst consensus: Strong Buy (86% buy). Based on 14 analysts: 7 strong buy, 5 buy, 2 hold, 0 sell, 0 strong sell.
Analyst Price Targets
$42.13 mean target
+112.8% upside
Strong Buy (1.25)
$22.00 Low
$55.00 High
| Metric | Value |
|---|---|
| Current Price | $19.80 |
| Target Low | $22.00 |
| Target Mean | $42.13 |
| Target Median | $44.50 |
| Target High | $55.00 |
| # Analysts | 8 |
| Recommendation | Strong Buy (1.25) |
Earnings Estimates & Revisions
| Period | EPS Avg | EPS Low | EPS High | EPS Growth | 30d Rev. | Up/Down | Rev. Avg | Rev. Growth | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| Current Q 2026-06-30 |
$-0.76 | $-1.46 | $-0.05 | 39.6% | +51.0% | — | $0.0B | 0.0% | 2 |
| Next Q 2026-09-30 |
$-1.31 | $-1.46 | $-1.16 | -7.4% | +2.2% | — | $0.0B | 0.0% | 2 |
| Current FY 2026-12-31 |
$-4.33 | $-5.06 | $-3.53 | 10.3% | +24.5% | 0↑ 1↓ | $0.0B | 262.6% | 3 |
| Next FY 2027-12-31 |
$-2.27 | $-4.34 | $-0.19 | 47.7% | +55.0% | 0↑ 1↓ | $0.1B | 74.4% | 2 |
Current Quarter EPS Revision History
| Timepoint | EPS Estimate | Change |
|---|---|---|
| Current | $-0.755 | |
| 7d ago | $-1.540 | +0.785 |
| 30d ago | $-1.540 | +0.785 |
| 60d ago | $-1.060 | +0.305 |
| 90d ago | $-1.060 | +0.305 |
5 analyst firms have rated this stock: 0 upgrades, 1 downgrades, 0 initiations.
Individual Analyst Actions
| Date | Analyst Firm | Action | Previous Rating | New Rating |
|---|---|---|---|---|
| May 15, 2026 | HC Wainwright & Co. | REITERATE | Buy | Buy |
| May 14, 2026 | Morgan Stanley | MAINTAIN | Equal-Weight | Equal-Weight |
| Mar 17, 2026 | Citigroup | MAINTAIN | Buy | Buy |
| Mar 17, 2026 | Guggenheim | MAINTAIN | Buy | Buy |
| Mar 17, 2026 | Morgan Stanley | MAINTAIN | Equal-Weight | Equal-Weight |
| Mar 17, 2026 | HC Wainwright & Co. | REITERATE | Buy | Buy |
| Feb 10, 2026 | HC Wainwright & Co. | REITERATE | Buy | Buy |
| Jan 6, 2026 | Morgan Stanley | DOWNGRADE | Overweight | Equal-Weight |
| Dec 22, 2025 | Wedbush | REITERATE | Outperform | Outperform |
Monthly Consensus History
| Period | Strong Buy | Buy | Hold | Sell | Strong Sell | Buy % | Distribution |
|---|---|---|---|---|---|---|---|
| Jun 1, 2026 | 7 | 5 | 2 | 0 | 0 | 86% | |
| May 1, 2026 | 7 | 5 | 2 | 0 | 0 | 86% | |
| Apr 1, 2026 | 7 | 5 | 2 | 0 | 0 | 86% | |
| Mar 1, 2026 | 7 | 5 | 2 | 0 | 0 | 86% | |
| Feb 1, 2026 | 7 | 5 | 2 | 0 | 0 | 86% | |
| Jan 1, 2026 | 7 | 6 | 1 | 0 | 0 | 93% |
Strong BuyBuyHoldSellStrong Sell
No congressional trading data available for this ticker. Data is sourced from Senate and House financial disclosure filings.
No Reddit sentiment data available yet. Sentiment is analyzed from Reddit investment communities on a rolling basis.
Jun 11, 2026
other
Zenas BioPharma to Present at the H.C. Wainwright 7th Annual Neuro Perspectives Expert Summit
<p align="justify">WALTHAM, Mass., June 11, 2026 (GLOBE NEWSWIRE) -- Zenas BioPharma, Inc. (“Zenas,” “Zenas BioPharma” or the “Company”) (Nasdaq: ZB
Jun 2, 2026
other
Zenas BioPharma Announces Data from the Registrational Phase 3 INDIGO Trial of Obexelimab in Immunoglobulin G4-Related Disease (IgG4-RD), Simultaneously Presented at the EULAR 2026 Congress and Published in the New England Journal of Medicine
<p align="center"><em>- The INDIGO study met its primary and all key secondary endpoints with statistically significant results -</em></p>
May 28, 2026
fda
Zenas BioPharma Announces Submission of Biologics License Application (BLA) to U.S. FDA for Obexelimab in IgG4-RD
<p align="center"><em>- BLA submission based on positive results from Phase 3 INDIGO trial -</em></p>
May 19, 2026
fda
Zenas BioPharma Announces Upcoming Presentation of Results from Phase 3 INDIGO Registrational Trial of Obexelimab in Immunoglobulin G4-Related Disease (IgG4-RD) at EULAR 2026 Congress
<p align="center"><em>- Safety and efficacy results from the Phase 3 INDIGO trial to be presented by Emanuel Della Torre, M.D., Ph.D., on Thursday Jun
May 18, 2026
activist
Zenas BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
<p align="justify">WALTHAM, Mass., May 18, 2026 (GLOBE NEWSWIRE) -- Zenas BioPharma, Inc. (“Zenas” or the “Company”) (Nasdaq: ZBIO), a clinical-stag
May 18, 2026
short_volume
Short Volume: ZBIO — 58.9% short (0.3M / 0.6M)
Short: 346,949 | Exempt: 581 | TRF Vol: 589,063 | Short Ratio: 58.9% | Off-exchange volume (dark pool + OTC)
May 14, 2026
earnings_calendar
ZBIO Q1 2026 Earnings Scheduled — 2026-05-14
May 13, 2026
fda
Zenas BioPharma Announces First Subject Dosed in Phase 1 Clinical Trial of ZB021, a Novel, Potentially Best-in-Class Oral IL-17AA/AF Inhibitor
<p align="center"><em>- Phase 1 trial designed to evaluate the safety, tolerability, and pharmacokinetic properties of ZB021 in healthy volunteers and
May 13, 2026
earnings
Zenas BioPharma Reports First Quarter 2026 Financial Results and Provides Corporate Update
<p align="center"><em>– Obexelimab marketing applications for the treatment of IgG4-RD on-target for submission to the FDA this quarter and the EMA in
May 13, 2026
earnings_calendar
ZBIO Q1 2026 Earnings Scheduled — 2026-05-13
Apr 17, 2026
other
Zenas BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
<p align="justify">WALTHAM, Mass., April 17, 2026 (GLOBE NEWSWIRE) -- Zenas BioPharma, Inc. (“Zenas” or the “Company”) (Nasdaq: ZBIO), a clinical-st
Apr 14, 2026
Clinical Trial
A Study of Obexelimab in Patients With Warm Autoimmune Hemolytic Anemia (SApHiAre)
Phase Phase 3 — ACTIVE_NOT_RECRUITING
Apr 14, 2026
clinical_trial_readout
T-90d Trial Readout: Obexelimab (Phase 3)
Trial: A Study of Obexelimab in Patients With Warm Autoimmune Hemolytic Anemia (SApHiAre)
Sponsor: Zenas BioPharma (USA), LLC
Phase: Phase 3 | Status:
Apr 6, 2026
clinical_trial_readout
T-90d Trial Readout: Obexelimab (Phase 3)
Trial: A Study of Obexelimab in Patients With Warm Autoimmune Hemolytic Anemia (SApHiAre)
Sponsor: Zenas BioPharma (USA), LLC
Phase: Phase 3 | Status:
Apr 2, 2026
short_interest
FTD: ZBIO — 225,964 shares ($4.6M) failed to deliver
Settlement: 20260402, Price: $20.36, FTD Value: $4,600,627.04, ZENAS BIOPHARMA INC COM
Apr 2, 2026
short_volume
Short Volume: ZBIO — 55.0% short (0.6M / 1.0M)
Short: 567,147 | Exempt: 0 | TRF Vol: 1,030,652 | Short Ratio: 55.0% | Off-exchange volume (dark pool + OTC)