Chardan Capital Has Lowered Expectations for Zura Bio (NASDAQ:ZURA) Stock Price

Zura Bio (NASDAQ:ZURA) had its price objective decreased by Chardan Capital from $14.00 to $12.00 in a research note published on Friday morning,Benzinga reports. Chardan Capital currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Piper Sandler reiterated an “overweight” rating and issued a $26.00 target price on shares of Zura Bio in a research note on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zura Bio in a research note on Friday, October 18th. HC Wainwright reissued a “neutral” rating and issued a $5.00 target price on shares of Zura Bio in a research report on Monday, October 21st. Leerink Partnrs raised Zura Bio to a “strong-buy” rating in a research report on Monday, November 4th. Finally, Leerink Partners initiated coverage on Zura Bio in a report on Monday, November 4th. They issued an “outperform” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $15.80.

Zura Bio Stock Up 4.4 %

Shares of ZURA traded up $0.20 during trading hours on Friday, reaching $4.78. 83,620 shares of the stock traded hands, compared to its average volume of 325,549. Zura Bio has a 52 week low of $2.00 and a 52 week high of $6.35. The stock has a fifty day simple moving average of $4.18 and a 200 day simple moving average of $4.12.

Zura Bio (NASDAQ:ZURA) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Research analysts expect that Zura Bio will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Zura Bio

In other Zura Bio news, Director Someit Sidhu sold 51,728 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $3.87, for a total transaction of $200,187.36. Following the transaction, the director now directly owns 2,085,418 shares of the company’s stock, valued at approximately $8,070,567.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zura Bio

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in 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 buying an additional 5,900 shares during the period. Bank of New York Mellon Corp grew its position in shares of Zura Bio by 15.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 47,109 shares of the company’s stock valued at $165,000 after acquiring an additional 6,412 shares during the period. Forefront Analytics LLC increased its stake in shares of Zura Bio by 22.1% in the 2nd quarter. Forefront Analytics LLC now owns 41,569 shares of the company’s stock worth $145,000 after purchasing an additional 7,531 shares in the last quarter. AQR Capital Management LLC purchased a new position in Zura Bio during the second quarter valued at $43,000. Finally, SG Americas Securities LLC bought a new stake in Zura Bio during the third quarter valued at about $62,000. 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.