Wells Fargo & Company Lowers Zentalis Pharmaceuticals (NASDAQ:ZNTL) to Equal Weight

Wells Fargo & Company downgraded shares of Zentalis Pharmaceuticals (NASDAQ:ZNTL) from an overweight rating to an equal weight rating in a research report report published on Tuesday, Marketbeat reports. The brokerage currently has $9.00 price objective on the stock, down from their prior price objective of $29.00.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus dropped their price objective on Zentalis Pharmaceuticals from $36.00 to $32.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Wedbush upped their target price on Zentalis Pharmaceuticals from $12.00 to $15.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Finally, HC Wainwright cut their target price on shares of Zentalis Pharmaceuticals from $46.00 to $40.00 and set a buy rating for the company in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $12.13.

Zentalis Pharmaceuticals Stock Down 50.7 %

Shares of ZNTL opened at $4.14 on Tuesday. The stock has a market cap of $294.06 million, a P/E ratio of -1.30 and a beta of 1.83. The business’s fifty day moving average is $11.77 and its 200 day moving average is $13.13. Zentalis Pharmaceuticals has a 12-month low of $3.93 and a 12-month high of $30.53.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last posted its earnings results on Tuesday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.91. The firm had revenue of $40.56 million during the quarter, compared to the consensus estimate of $35.00 million. During the same quarter in the previous year, the company earned ($1.07) EPS. On average, analysts expect that Zentalis Pharmaceuticals will post -2.72 EPS for the current year.

Insider Activity at Zentalis Pharmaceuticals

In related news, insider Diana Hausman sold 3,356 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $12.62, for a total value of $42,352.72. Following the completion of the sale, the insider now owns 373,876 shares of the company’s stock, valued at $4,718,315.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Cam Gallagher sold 9,597 shares of Zentalis Pharmaceuticals stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $11.98, for a total transaction of $114,972.06. Following the completion of the transaction, the chief financial officer now directly owns 633,680 shares in the company, valued at $7,591,486.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Diana Hausman sold 3,356 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $12.62, for a total value of $42,352.72. Following the completion of the sale, the insider now directly owns 373,876 shares in the company, valued at $4,718,315.12. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZNTL. ProShare Advisors LLC lifted its stake in Zentalis Pharmaceuticals by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 15,436 shares of the company’s stock valued at $243,000 after acquiring an additional 1,274 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Zentalis Pharmaceuticals by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,989 shares of the company’s stock valued at $91,000 after purchasing an additional 1,519 shares in the last quarter. Quest Partners LLC bought a new stake in Zentalis Pharmaceuticals during the fourth quarter valued at about $38,000. Tower Research Capital LLC TRC raised its position in shares of Zentalis Pharmaceuticals by 252.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the company’s stock valued at $55,000 after buying an additional 2,589 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Zentalis Pharmaceuticals by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 445,823 shares of the company’s stock worth $6,754,000 after purchasing an additional 3,759 shares in the last quarter.

Zentalis Pharmaceuticals Company Profile

Zentalis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule therapeutics for the treatment of various cancers. Its products candidatures include the ZN-c3, an inhibitor of WEE1, a protein tyrosine kinase for the treatment of inhibitor for advanced solid tumors and hematological malignancies; in Phase 2 clinical trial as a monotherapy for the treatment of uterine serous carcinoma indications; Phase 2 clinical trial in Cyclin E1 driven high-grade serous ovarian cancer, fallopian tube, or primary peritoneal cancer; Phase 1/2 clinical trial in combination with PARPi for platinum-resistant ovarian cancer; Phase 1b clinical trial in combination with chemotherapy in platinum-resistant ovarian, and peritoneal or fallopian tube cancer; Phase 1/2 clinical trial in combination with chemotherapy in relapsed or refractory osteosarcoma; Phase 1/2 clinical trial with encorafenib and cetuximab for mutant metastatic colorectal cancer; and Phase 1/2 clinical trial in combination with chemotherapy in pancreatic cancer.