Zura Bio (NASDAQ:ZURA) Earns Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Zura Bio (NASDAQ:ZURA) in a research report released on Thursday, Benzinga reports. They currently have a $26.00 price target on the stock.

A number of other research firms also recently weighed in on ZURA. Cantor Fitzgerald restated an overweight rating on shares of Zura Bio in a research report on Thursday, August 15th. HC Wainwright started coverage on shares of Zura Bio in a research note on Thursday, September 5th. They issued a neutral rating and a $5.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $15.50.

Zura Bio Price Performance

ZURA stock opened at $4.44 on Thursday. The firm has a 50 day simple moving average of $3.73 and a two-hundred day simple moving average of $3.78. Zura Bio has a one year low of $2.00 and a one year high of $7.22.

Zura Bio (NASDAQ:ZURA) last released its earnings results on Tuesday, August 13th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). As a group, sell-side analysts expect that Zura Bio will post -0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Someit Sidhu sold 51,728 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $3.87, for a total transaction of $200,187.36. Following the completion of the sale, the director now owns 2,085,418 shares of the company’s stock, valued at $8,070,567.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Zura Bio

Institutional investors have recently added to or reduced their stakes in the company. Armistice Capital LLC increased its position in shares of Zura Bio by 15.4% in the fourth quarter. Armistice Capital LLC now owns 1,824,000 shares of the company’s stock valued at $8,518,000 after acquiring an additional 244,000 shares during the period. Forefront Analytics LLC lifted its holdings in Zura Bio by 46.8% in the 4th quarter. Forefront Analytics LLC now owns 21,229 shares of the company’s stock worth $99,000 after buying an additional 6,765 shares during the period. Affinity Asset Advisors LLC bought a new stake in shares of Zura Bio in the 1st quarter worth approximately $1,157,000. Bank of New York Mellon Corp increased its stake in shares of Zura Bio by 15.8% during the second quarter. Bank of New York Mellon Corp now owns 47,109 shares of the company’s stock valued at $165,000 after buying an additional 6,412 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Zura Bio by 51.3% during the second quarter. Renaissance Technologies LLC now owns 17,400 shares of the company’s stock valued at $61,000 after acquiring an additional 5,900 shares in the last quarter. Hedge funds and other institutional investors own 61.14% of the company’s stock.

About Zura Bio

Zura Bio Limited, a clinical-stage biotechnology company, focuses on developing novel medicines for immune and inflammatory disorders. It develops Tibulizumab, an IgG-scFv bispecific dual-antagonist antibody engineered by the fusion of ixekizumab and tabalumab that neutralizes IL-17A and BAFF, which is in Phase 2 clinical trial development; ZB-168, a monoclonal antibody that binds and neutralizes the IL-7 receptor chain that impact on diseases driven by IL7 and thymic stromal lymphopoietin immune pathways; and Torudokimab, a monoclonal antibody that neutralizes IL33, which is in Phase 2 clinical trial development.