Zentalis Pharmaceuticals (NASDAQ:ZNTL) Trading Down 2.6% on Insider Selling

Zentalis Pharmaceuticals, Inc. (NASDAQ:ZNTL)’s share price dropped 2.6% on Thursday following insider selling activity. The company traded as low as $23.46 and last traded at $23.61. Approximately 109,454 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 678,185 shares. The stock had previously closed at $24.25.

Specifically, major shareholder Matrix Capital Management Comp purchased 4,760,000 shares of Zentalis Pharmaceuticals stock in a transaction that occurred on Tuesday, June 20th. The stock was bought at an average cost of $22.66 per share, for a total transaction of $107,861,600.00. Following the completion of the transaction, the insider now owns 13,959,973 shares in the company, valued at $316,332,988.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zentalis Pharmaceuticals news, major shareholder Matrix Capital Management Comp purchased 4,760,000 shares of Zentalis Pharmaceuticals stock in a transaction that occurred on Tuesday, June 20th. The stock was bought at an average price of $22.66 per share, with a total value of $107,861,600.00. Following the acquisition, the insider now owns 13,959,973 shares of the company’s stock, valued at approximately $316,332,988.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jan Skvarka sold 5,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $25.05, for a total value of $125,250.00. Following the transaction, the director now owns 47,970 shares in the company, valued at approximately $1,201,648.50. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ZNTL shares. Jefferies Financial Group lowered their price target on Zentalis Pharmaceuticals from $120.00 to $70.00 in a research note on Friday, May 19th. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Zentalis Pharmaceuticals in a research report on Thursday, August 10th. Wells Fargo & Company dropped their price objective on shares of Zentalis Pharmaceuticals from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 10th. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Zentalis Pharmaceuticals in a report on Thursday, August 10th. Finally, Stifel Nicolaus upped their price target on Zentalis Pharmaceuticals from $45.00 to $50.00 in a research report on Wednesday, June 7th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $47.50.

Zentalis Pharmaceuticals Trading Down 2.6 %

The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -5.05 and a beta of 1.78. The stock’s fifty day moving average price is $26.22 and its 200-day moving average price is $23.84.

Zentalis Pharmaceuticals (NASDAQ:ZNTL) last posted its earnings results on Wednesday, August 9th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.82). During the same period in the prior year, the business earned ($1.34) earnings per share. Analysts predict that Zentalis Pharmaceuticals, Inc. will post -4.79 earnings per share for the current year.

Institutional Trading of Zentalis Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ZNTL. Matrix Capital Management Company LP raised its position in Zentalis Pharmaceuticals by 51.7% in the second quarter. Matrix Capital Management Company LP now owns 13,959,973 shares of the company’s stock valued at $393,811,000 after purchasing an additional 4,760,000 shares during the period. Eventide Asset Management LLC lifted its stake in Zentalis Pharmaceuticals by 113.1% during the 2nd quarter. Eventide Asset Management LLC now owns 6,877,803 shares of the company’s stock worth $194,023,000 after acquiring an additional 3,650,803 shares in the last quarter. Cormorant Asset Management LP acquired a new position in Zentalis Pharmaceuticals during the 2nd quarter worth about $30,890,000. State Street Corp boosted its holdings in Zentalis Pharmaceuticals by 50.0% during the 2nd quarter. State Street Corp now owns 3,119,734 shares of the company’s stock valued at $87,665,000 after acquiring an additional 1,039,294 shares during the period. Finally, FMR LLC grew its position in Zentalis Pharmaceuticals by 12.7% in the 1st quarter. FMR LLC now owns 8,912,751 shares of the company’s stock valued at $153,299,000 after acquiring an additional 1,003,575 shares in the last quarter.

About Zentalis Pharmaceuticals

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, which is in Phase 2 clinical trial 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.