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Zenas BioPharma, Inc.
(NASDAQ:ZBIO)
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Rating:50Neutral
Price Target:
$31.00
▼(-2.05% Downside)
Action:Reiterated
Date:08/18/26
The score is held down primarily by very weak financial performance—large losses, accelerating cash burn, and increased leverage—partly offset by a moderately positive technical setup (price above key longer-term moving averages with neutral momentum). Valuation provides limited support because the negative P/E is driven by losses and no dividend yield is available.
Positive Factors
Regulatory progress
BLA acceptance is a major de-risking milestone that advances obexelimab toward potential commercialization. The 2027 FDA decision date provides a defined path to a first marketed product and could support a durable transition from development to commercial operations.
Negative Factors
Minimal revenue
The company has little current revenue to offset a very large cost base, leaving profitability highly dependent on successful clinical development and future commercialization. This weak earnings foundation can persist until a product reaches meaningful market adoption.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory progress
BLA acceptance is a major de-risking milestone that advances obexelimab toward potential commercialization. The 2027 FDA decision date provides a defined path to a first marketed product and could support a durable transition from development to commercial operations.
Read all positive factors
Zenas BioPharma, Inc. (ZBIO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.15B
Dividend YieldN/A
Average Volume (3M)1.03M
Price to Earnings (P/E)―
Beta (1Y)0.41
Revenue Growth-93.33%
EPS Growth-127.13%
CountryUS
Employees167
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-9.62
Shares Outstanding65,176,720
10 Day Avg. Volume846,352
30 Day Avg. Volume1,025,017
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)6.71
Price to Sales (P/S)162.41
P/FCF Ratio-9.42
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$44.00Price Target Upside39.02% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-5.5
Revenue Forecast (FY)$10.22M
Zenas BioPharma, Inc. Business Overview & Revenue Model
Company Description
Zenas BioPharma, Inc. functions as a clinical-stage biopharmaceutical firm, concentrating on the creation and market introduction of innovative, immunology-based treatments. The company's primary investigational therapy is obexelimab, a distinctiv...
How the Company Makes Money
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Zenas BioPharma, Inc. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
44
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.00M | 10.00M | 5.00M | 50.00M | 0.00 |
| Gross Profit | -59.73M | 10.00M | -134.14M | 50.00M | -61.69M |
| EBITDA | -457.28M | -370.43M | -156.42M | -27.03M | -75.12M |
| Net Income | -484.38M | -377.74M | -156.99M | -37.12M | -119.28M |
Balance Sheet | |||||
| Total Assets | 701.69M | 383.64M | 369.97M | 68.18M | 74.58M |
| Cash, Cash Equivalents and Short-Term Investments | 643.13M | 343.19M | 350.77M | 56.86M | 67.21M |
| Total Debt | 389.60M | 79.96M | 1.00M | 21.11M | 1.53M |
| Total Liabilities | 454.59M | 141.50M | 57.51M | 293.90M | 266.87M |
| Stockholders Equity | 247.10M | 242.14M | 312.46M | -225.72M | -192.29M |
Cash Flow | |||||
| Free Cash Flow | -225.97M | -172.35M | -119.81M | -30.55M | -67.85M |
| Operating Cash Flow | -225.97M | -172.33M | -119.67M | -30.53M | -65.65M |
| Investing Cash Flow | -309.41M | -251.89M | -30.55M | -17.00K | -2.20M |
| Financing Cash Flow | 689.00M | 215.28M | 412.96M | 20.12M | 59.39M |
Zenas BioPharma, Inc. Technical Analysis
Positive
31.65
Price Trends
29.21
Positive
24.26
Positive
26.07
Positive
Market Momentum
0.92
Positive
56.98
Neutral
85.84
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZBIO, the sentiment is Positive. The current price of 31.65 is below the 20-day moving average (MA) of 31.68, above the 50-day MA of 29.21, and above the 200-day MA of 26.07, indicating a bullish trend. The MACD of 0.92 indicates Positive momentum. The RSI at 56.98 is Neutral, neither overbought nor oversold. The STOCH value of 85.84 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ZBIO.
Zenas BioPharma, Inc. Risk Analysis
Zenas BioPharma, Inc. disclosed 86 risk factors in its most recent earnings report. Zenas BioPharma, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Zenas BioPharma, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.03B | 6.54 | 90.98% | ― | 1078.78% | ― | |
56 Neutral | $485.31M | -6.07 | -58.82% | ― | ― | 29.97% | |
55 Neutral | $2.25B | -22.98 | 81.78% | ― | 100.27% | 39.90% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $2.15B | -3.39 | -189.68% | ― | -93.33% | -127.13% | |
49 Neutral | $627.47M | -3.13 | -152.15% | ― | -21.91% | -134.63% | |
48 Neutral | $709.50M | -6.98 | 25.70% | ― | 110.16% | 73.04% |
* Healthcare Sector Average
ZBIO
Zenas BioPharma, Inc.
32.62
16.62
103.87%
ABUS
Arbutus Biopharma
5.17
1.46
39.35%
RZLT
Rezolute
4.98
-2.14
-30.06%
URGN
Urogen Pharma
45.50
26.05
133.93%
PHAT
Phathom Pharmaceuticals
8.94
-3.24
-26.60%
VALN
Valneva
6.56
-2.29
-25.88%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.