Piper Sandler Reiterates “Overweight” Rating for Zura Bio (NASDAQ:ZURA)

Zura Bio (NASDAQ:ZURA)‘s stock had its “overweight” rating reissued by Piper Sandler in a research report issued on Thursday, Benzinga reports. They currently have a $26.00 target price on the stock. Piper Sandler’s target price would indicate a potential upside of 485.59% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zura Bio in a research note on Thursday, August 15th. HC Wainwright started coverage on shares of Zura Bio in a research report on Thursday, September 5th. They set a “neutral” rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Zura Bio Stock Performance

Shares of ZURA stock opened at $4.44 on Thursday. The business has a fifty day simple moving average of $3.71 and a 200 day simple moving average of $3.77. Zura Bio has a twelve month low of $2.00 and a twelve month high of $7.22.

Zura Bio (NASDAQ:ZURA) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). On average, equities research analysts expect that Zura Bio will post -0.47 EPS for the current fiscal year.

Insider Activity

In related 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 value of $200,187.36. Following the transaction, the director now owns 2,085,418 shares in the company, valued at $8,070,567.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 15.80% of the company’s stock.

Institutional Trading of Zura Bio

Several hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in Zura Bio during the 2nd quarter worth approximately $8,446,000. Great Point Partners LLC raised its position in shares of Zura Bio by 68.3% during the second quarter. Great Point Partners LLC now owns 4,642,241 shares of the company’s stock worth $16,248,000 after purchasing an additional 1,884,501 shares during the period. Armistice Capital LLC lifted its holdings in shares of Zura Bio by 53.2% in the 2nd quarter. Armistice Capital LLC now owns 2,524,000 shares of the company’s stock worth $8,834,000 after purchasing an additional 876,000 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in Zura Bio in the 1st quarter valued at $1,157,000. Finally, AQR Capital Management LLC bought a new stake in Zura Bio during the 2nd quarter valued at $43,000. 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.