Leon O. Moulder Jr., the Chief Executive Officer of Zenas BioPharma, Inc. (NASDAQ:ZBIO), has recently made significant stock purchases, according to a Form 4 filing with the Securities and Exchange Commission. Over the course of two days, Moulder acquired a total of 70,000 shares of common stock, with the transactions valued at approximately $718,100. The shares were purchased at prices ranging from $9.98 to $10.76 per share, near the stock's 52-week low of $9.45. InvestingPro data shows the stock is currently trading at $9.84, with analyst price targets ranging from $27 to $45.
These acquisitions increase Moulder's direct ownership of Zenas BioPharma shares to 241,155. Additionally, he holds an indirect interest in 1,672,039 shares through Tellus BioVentures LLC, where he is the Managing Member. This move underscores Moulder's continued investment and confidence in the company's prospects. The company maintains a strong liquidity position with a current ratio of 8.95, and according to InvestingPro, holds more cash than debt on its balance sheet. Get access to 12 additional InvestingPro Tips and comprehensive financial analysis to evaluate this insider purchase.
In other recent news, Zenas Biopharma has been gaining attention from several analyst firms due to its lead drug, obexelimab. Citi initiated coverage with a Buy rating, highlighting the potential of obexelimab to treat a range of diseases within the inflammation and immunology space. Morgan Stanley (NYSE:MS) also expressed optimism, initiating coverage with an Overweight rating, citing upcoming Phase II and Phase III trial updates in 2025 as pivotal moments. Guggenheim initiated coverage with a Buy rating, noting obexelimab's promising mechanism of action and potential to generate approximately $1.8 billion in global risk-adjusted peak sales. Jefferies commenced coverage with a Buy rating, estimating total peak adjusted revenues for Zenas Biopharma at approximately $1.6 billion. Zenas Biopharma is currently advancing its Phase 3 study for obexelimab in IgG4-Related Disease, with results expected in late 2025. Phase 2 trials for Multiple Sclerosis and Systemic Lupus Erythematosus are ongoing, with data anticipated in 2025 and early 2026, respectively. These recent developments indicate Zenas Biopharma's potential for growth in the near future.
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