ZBIO

Zenas BioPharma, Inc.
NasdaqGSUSDEQUITY Healthcare DELAYED
Last price
32.50
▲ 0.88 (2.78%)
MARKET ·

Price

Open
31.69
Prev close
31.62
Day high
32.79
Day low
31.45
Volume
746.70K
Market cap
$2.10B
P/E (TTM)
52W range
13.50 – 44.60

Trailing performance

Price return · vs SPY
Returnvs SPY
1W
+9.42% +10.8%
1M
+4.19% +0.5%
3M
+62.75% +59.7%
6M
+24.77% +13.7%
YTD
-11.07% -23.4%
1Y
+97.86% +77.9%
3Y
-74.2%
5Y

Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.

Fundamentals

TTM · reported
Market cap$2.10B
Enterprise value$1.76B
Revenue (TTM)$1.00M
Gross profit$-212.47M
EBITDA$-273.87M
Net income$-484.38M
EPS (TTM)$-9.63
Free cash flow$-211.39M
Total cash$643.13M
Total debt$297.86M
Book value / share$3.90
Shares outstanding65.18M
Float47.03M
Short % of float27.75%
Dividend yield
Beta (5Y)

Valuation & profitability ratios

Account required
Trailing P/E
Forward P/E-6.93
PEG ratio
Price / sales
Price / book8.28
EV / revenue1,759.29
EV / EBITDA-6.42
Gross margin0.00%
Operating margin-7765.90%
Profit margin0.00%
Return on equity-199.04%
Return on assets-34.42%
Debt / equity120.54
Current ratio9.93
Free account required

Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.

Financial statements

Annual · as reported
Last 3 fiscal years
Line item202520242023
Total revenue$10.00M$5.00M$0
Cost of revenue$0$0$0
Gross profit$0$0$0
R&D
SG&A
Operating income
Pre-tax income
Tax provision$0$0$0
Net income-$377.74M-$156.99M-$37.12M
EBIT$0$0$0

Earnings

History & consensus estimates
Reported vs expected · EPS
QuarterEst.ActualSurprise
Jun 2026 -0.76-1.77 -134.4%
Mar 2026 -1.54-1.46 +5.2%
Dec 2025 -1.19-1.39 -16.8%
Sep 2025 -0.85-1.22 -44.1%
Forward consensus
PeriodEPSAnalystsRevenueGrowth
Current quarter -1.27 2 $0 0.0%
Next quarter -1.28 2 $14.07M 0.0%
Current year -5.62 2 $12.26M +22.6%
Next year -4.66 2 $53.97M +340.2%

Analyst targets & ownership

Account required
Mean target$47.00
High target$59.00
Low target$32.00
Implied upside44.62%
Analyst count8
ConsensusSTRONG BUY
Strong buy / Buy0 / 7
Hold1
Sell / Strong sell0 / 0
Held by insiders16.69%
Held by institutions93.13%
Institutions holding205
Free account required

Price targets, consensus spread, insider and institutional ownership.

Insider net activity

6m · Form 4 rollup
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
Net transactions
0
Buys less sells
Sell : buy shares
Not enough filings
Insider-held shares
10.88M
Total on file

Insider transactions

Account required
DateInsiderAction SharesValueHeld
May 18, 26
MOULDER LEON OLIVER JR.
Chief Executive Officer
BUY 60.00K $1.01M Indirect
Apr 29, 26
MOULDER LEON OLIVER JR.
Chief Executive Officer
BUY 60.00K $1.07M Indirect
Mar 31, 26
MOULDER LEON OLIVER JR.
Chief Executive Officer
BUY 54.00K $1.02M Indirect
Mar 31, 26
LU HONGBO B
Director
BUY 75.00K $1.50M Indirect
Mar 31, 26
LU HONGBO B
Director
BUY 3.77K $70.20K Indirect
Mar 31, 26
FAIRMOUNT FUNDS MANAGEMENT LLC
Unknown
BUY 150.00K $3.00M Indirect
Feb 13, 26
ALLEN PATRICIA L
Director
BUY 19.86K $499.75K Direct
Feb 11, 26
LU HONGBO B
Director
BUY 25.98K $584.66K Indirect
Feb 5, 26
FARMER JOSEPH L
President
STOCK 974 $20.46K Direct
Feb 5, 26
FOX JENNIFER A
Chief Financial Officer
STOCK 1.59K $33.45K Direct
Feb 2, 26
MOULDER LEON OLIVER JR.
Chief Executive Officer
BUY 57.00K $1.02M Direct
Jan 9, 26
MOULDER LEON OLIVER JR.
Chief Executive Officer
BUY 100.00K $1.64M Direct
Oct 9, 25
ENRIGHT PATRICK G.
Director
BUY 117.25K $3.25M
Oct 9, 25
NUNN JASON RALEIGH
Director
BUY 63.16K $1.75M Indirect
What this is, and what it is not

These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.

A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.

This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.

Free account required

Officer and director trades in their own stock, straight from Form 4 filings.

Moving averages & technicals

Computed from 2Y daily closes
SMA 10
31.20
+4.17% from price
SMA 20
31.55
+2.36% from price
SMA 50
28.08
+14.99% from price
SMA 100
23.79
+36.62% from price
SMA 200
26.05
+23.98% from price
EMA 12
31.35
+3.67% from price
EMA 26
30.55
+6.39% from price
EMA 50
28.52
+13.95% from price
RSI (14)
58.5
Neutral
MACD (12,26,9)
0.80
Hist -0.23
ATR (14)
1.87
5.78% of price
Realised vol 30D
52.0%
Annualised
Bollinger upper
33.39
20, 2σ
Bollinger lower
29.70
20, 2σ
50 / 200 cross
Golden
28.08 vs 26.05
Trend bias
Above 200
+23.98%

Risk profile

Daily returns · 1Y window
Beta vs SPY
0.78
Less volatile than market
Correlation to SPY
0.09
Largely independent
Realised vol 30D
52.0%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-64.8%
Peak to trough
Max drawdown 5Y
-75.0%
Peak to trough
ATR 14
1.87
5.78% of price
Beta (reported)
5Y monthly, from filing

Unusual options activity

Account required
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
Free account required

Contracts trading at or above their open interest, ranked by notional and where the print landed.

Options analytics

Account required
Put / call volume
0.00
Call-heavy session
Put / call open interest
0.03
Positioning, not flow
Max pain
25.00
-22.6% from spot
ATM implied vol
70.9%
Nearest strike to spot
Skew (10% OTM)
+66.4%
Puts bid over calls
Call volume
3
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
35.00
20 contracts
Heaviest put OI
25.00
1 contracts

Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.

Free account required

Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.

Options chain

Account required
ExpirySpot 32.50
Calls
StrikeLastBidAskVolOIIV
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
Puts
StrikeLastBidAskVolOIIV
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
000.000.000.000.00000.0%
Free account required

Every listed expiry, both sides of the book, with volume, open interest and implied volatility.

PRIVATE STRATEGY · BY QUALIFICATION

The same data. A different seat.

The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.