Zura Bio (NASDAQ:ZURA) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Zura Bio (NASDAQ:ZURA) in a report published on Friday, MarketBeat.com reports. The brokerage issued an overweight rating and a $26.00 price objective on the stock.

Separately, Oppenheimer reissued an outperform rating and set a $16.00 target price (down from $17.00) on shares of Zura Bio in a research note on Monday, April 1st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zura Bio currently has a consensus rating of Buy and an average price target of $18.00.

Zura Bio Stock Performance

NASDAQ:ZURA opened at $4.62 on Friday. The stock’s fifty day simple moving average is $3.26 and its 200-day simple moving average is $3.93. Zura Bio has a 12-month low of $2.00 and a 12-month high of $14.00.

Insiders Place Their Bets

In other news, Director Amit Munshi acquired 159,744 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average cost of $3.13 per share, with a total value of $499,998.72. Following the completion of the purchase, the director now directly owns 777,384 shares of the company’s stock, valued at approximately $2,433,211.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 170,926 shares of company stock worth $534,998 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Zura Bio

Institutional investors have recently added to or reduced their stakes in the stock. Lynx1 Capital Management LP bought a new stake in shares of Zura Bio during the third quarter worth about $65,000. Forefront Analytics LLC bought a new stake in Zura Bio during the 3rd quarter worth approximately $95,000. Bank of New York Mellon Corp acquired a new position in Zura Bio in the 3rd quarter valued at approximately $224,000. Raymond James & Associates raised its stake in shares of Zura Bio by 14.0% during the third quarter. Raymond James & Associates now owns 77,356 shares of the company’s stock valued at $511,000 after acquiring an additional 9,481 shares during the last quarter. Finally, Eisler Capital US LLC acquired a new position in shares of Zura Bio during the third quarter worth $660,000. 61.14% of the stock is currently owned by institutional investors and hedge funds.

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.