ZBIO Stock Analysis: Zenas BioPharma, Common | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 1.670m USD | 12M Return: 182.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 17.9M
Warnings
Tailwinds
Seasonality 1.8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Zenas BioPharma, Inc. (NASDAQ: ZBIO) is a clinical-stage biopharmaceutical company focused on developing and commercializing immunology-based therapies. The company is headquartered in Waltham, Massachusetts, was incorporated in 2019, and completed its IPO in September 2024.
Its lead product candidate, obexelimab, is a bifunctional monoclonal antibody that targets CD19 and FcγRIIb, and is being studied across multiple immune and inflammatory (I&I) indications, including IgG4-related disease, multiple sclerosis, and systemic lupus erythematosus. The pipeline also includes ZB002 (anti-TNFα monoclonal antibody), ZB004 (a CTLA-4-Ig fusion protein with an extended half-life), and ZB001 (an anti-IGF-1R monoclonal antibody).
As a clinical-stage biotechnology company, Zenas does not yet generate commercial product revenue, with its valuation typically driven by pipeline progress, clinical trial readouts, and capital markets activity. The company was originally incorporated as Zenas BioPharma (Cayman) Limited before redomiciling to the United States under its current name in August 2023.
- Obexelimab Phase 3 IgG4-related disease data readout approaches
- Lead candidate expansion into multiple sclerosis and lupus trials broadens market
- Cash runway and burn rate sustain operations through regulatory milestones
| Net Income: -425.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.58 > 0.02 and ΔFCF/TA -13.46 > 1.0 |
| NWC/Revenue: 6.69k% < 20% (prev 1.79k%; Δ 4.90k% < -1%) |
| CFO/TA -0.28 > 3% & CFO -210.5m > Net Income -425.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 11.94 > 1.5 & < 3 |
| Outstanding Shares: last quarter (55.6m) vs 12m ago 33.07% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 1.85% > 50% (prev 4.49%; Δ -2.64% > 0%) |
| Interest Coverage Ratio: -55.75 > 6 (EBIT TTM -408.5m / Interest Expense TTM 7.33m) |
| A: 0.89 (Total Current Assets 730.2m - Total Current Liabilities 61.2m) / Total Assets 747.7m |
| B: -1.13 (Retained Earnings -846.1m / Total Assets 747.7m) |
| C: -0.76 (EBIT TTM -408.5m / Avg Total Assets 540.7m) |
| D: 0.82 (Book Value of Equity 335.8m / Total Liabilities 411.9m) |
| Altman-Z'' = -2.04 = D |
As of July 08, 2026, the stock is trading at USD 27.68 with a total of 897,927 shares traded. Over the past week, the price has changed by +8.34%, over one month by +57.18%, over three months by +23.13% and over the past year by +182.74%.
Current recommended Stop Loss: 25.60 (which is 7.5% or 1.3 ATR below the current price).
Zenas BioPharma, Common has received a consensus analysts rating of 4.71. Therefore, it is recommended to buy ZBIO.
- StrongBuy: 5
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 42.1 | 52.2% |
P/S = 119.5029
P/B = 5.1209
Revenue TTM = 10.0m USD
EBIT TTM = -408.5m USD
EBITDA TTM = -408.4m USD
Long Term Debt = 265.7m USD (from longTermDebt, last quarter)
Short Term Debt = 1.04m USD (from shortTermDebt, last quarter)
Debt = 352.8m USD (from shortLongTermDebtTotal, last quarter) + Leases 1.11m
Net Debt = -334.7m USD (calculated: Debt 352.8m - CCE 687.6m)
Enterprise Value = 1.34b USD (1.67b + Debt 352.8m - CCE 687.6m)
Interest Coverage Ratio = -55.75 (Ebit TTM -408.5m / Interest Expense TTM 7.33m)
EV/FCF = -3.10x (Enterprise Value 1.34b / FCF TTM -431.0m)
FCF Yield = -32.28% (FCF TTM -431.0m / Enterprise Value 1.34b)
FCF Margin = -4.31k% (FCF TTM -431.0m / Revenue TTM 10.0m)
Net Margin = -4.25k% (Net Income TTM -425.2m / Revenue TTM 10.0m)
Gross Margin = unknown ((Revenue TTM 10.0m - Cost of Revenue TTM 48.0m) / Revenue TTM)
Tobins Q-Ratio = 1.79 (Enterprise Value 1.34b / Total Assets 747.7m)
Interest Expense / Debt = 2.08% (Interest Expense 7.33m / Debt 352.8m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -322.7m (EBIT -408.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 10.42 (Total Current Assets 730.2m / Total Current Liabilities 70.1m)
Debt / Equity = 1.05 (Debt 352.8m / totalStockholderEquity, last quarter 335.8m)
Debt / EBITDA = 0.82 (negative EBITDA) (Net Debt -334.7m / EBITDA -408.4m)
Debt / FCF = 0.78 (negative FCF - burning cash) (Net Debt -334.7m / FCF TTM -431.0m)
Total Stockholder Equity = 253.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -78.63% (Net Income -425.2m / Total Assets 747.7m)
RoE = -167.7% (Net Income TTM -425.2m / Total Stockholder Equity 253.5m)
RoCE = -78.67% (EBIT -408.5m / Capital Employed (Equity 253.5m + L.T.Debt 265.7m))
RoIC = -46.97% (negative operating profit) (NOPAT -322.7m / Invested Capital 687.1m)
WACC = 7.99% (E(1.67b)/V(2.02b) * Re(9.33%) + D(352.8m)/V(2.02b) * Rd(2.08%) * (1-Tc(0.21)))
Discount Rate = 9.33% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 96.61 | Cagr: 18.02%
[DCF] Fair Price = unknown (Cash Flow -431.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.04 | # QB: 0
Revenue Correlation: -68.12 | Revenue CAGR: -55.28% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.76 | Chg30d=+50.97% | Revisions=+0% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-1.31 | Chg30d=+2.24% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=-4.29 | Chg30d=+0.88% | Revisions=-25% | GrowthEPS=+11.1% | GrowthRev=+262.6%
EPS next Year (2027-12-31): EPS=-2.27 | Chg30d=+54.97% | Revisions=-25% | GrowthEPS=+47.3% | GrowthRev=+74.4%
[Analyst] Revisions Ratio: -40% (up=0, down=2)