ZBIONasdaqPharmaceutical PreparationsFiscal year ends December 31
Zenas BioPharma, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 13, 2026
$26.71+1.87 (+7.53%)
Close on Oct 19, 2026
- Market cap
- $1.69B
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
94.0%
61M of 65M shares
Institutional holders
145
29 new, 22 sold out
Net institutional buying
3M
In Q2 2026
Insider trades, 12 months
17 buys · 0 sales
Net bought $11.42M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Abigail P. Johnson | 7,652,255 | 14.30% | 13G (passive) amendment | Dec 31, 2025 |
| InnoCare Pharma Inc. | 7,000,000 | 10.40% | 13G (passive) amendment | Aug 26, 2026 |
| Wellington Investment Advisors Holdings LLP | 6,566,134 | 10.10% | 13G (passive) | Aug 31, 2026 |
| SR One Capital Management, LLC | 5,037,854 | 9.40% | 13D (active) amendment | Oct 9, 2025 |
| Simeon George | 5,037,854 | 7.70% | 13D (active) amendment | Aug 13, 2026 |
| Ocean Prominent Limited | 5,000,000 | 9.40% | 13G (passive) | Oct 7, 2025 |
| FMR LLC | 4,644,279 | 11.00% | 13G (passive) amendment | Aug 29, 2025 |
| Enavate Sciences GP, LLC | 3,919,159 | 7.30% | 13D (active) amendment | Oct 9, 2025 |
| Moulder Leon O Jr | 3,220,880 | 5.09% | 13D (active) | Apr 29, 2026 |
| Xencor, Inc. | 3,098,380 | 7.40% | 13G (passive) | Sep 16, 2024 |
| Scott D. Sandell | 2,613,948 | 6.60% | 13G (passive) | Sep 16, 2024 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of ZBIO | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| FMR LLC | 9,506,701 | 14.59% | $241.28M | +424,701 | 0.01% |
| Sr One Capital Management, LP | 5,037,854 | 7.73% | $127.86M | – | 12.31% |
| NEA Management Company, LLC | 4,023,219 | 6.17% | $102.11M | – | 6.43% |
| Enavate Sciences Gp, LLC | 3,919,159 | 6.01% | $99.47M | – | 28.80% |
| Federated Hermes, Inc. | 3,116,805 | 4.78% | $79.10M | −10,226 | 0.11% |
| BlackRock, Inc. | 2,686,225 | 4.12% | $68.18M | +648,677 | 0.00% |
| Capital International Investors | 2,502,912 | 3.84% | $63.52M | +68,912 | 0.01% |
| Polar Capital Holdings Plc | 2,412,772 | 3.70% | $61.24M | −135,672 | 0.14% |
| Royalty Pharma Sub-Manager, LLC | 2,388,150 | 3.66% | $60.61M | – | 25.05% |
| Fairmount Funds Management LLC | 2,359,025 | 3.62% | $59.87M | – | 3.96% |
| State Street Corp | 2,055,100 | 3.15% | $52.16M | +584,177 | 0.00% |
| NVP Associates, LLC | 1,838,482 | 2.82% | $46.66M | – | 14.22% |
| Wellington Management Group Llp | 1,593,819 | 2.45% | $40.45M | +347,766 | 0.01% |
| Vanguard Capital Management LLC | 1,354,864 | 2.08% | $34.39M | +109,473 | 0.00% |
| Bank Of America Corp /De/ | 1,231,159 | 1.89% | $31.25M | +842,812 | 0.00% |
| Price T Rowe Associates Inc /Md/ | 1,226,928 | 1.88% | $31.14K | +869,662 | 0.00% |
| Alliancebernstein L.P. | 1,103,388 | 1.69% | $21.57M | +206,067 | 0.01% |
| Geode Capital Management, LLC | 882,654 | 1.35% | $22.41M | +226,869 | 0.00% |
| Two Sigma Investments, LP | 815,150 | 1.25% | $20.69M | +540,094 | 0.01% |
| EcoR1 Capital, LLC | 789,500 | 1.21% | $20.04M | – | 0.97% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 145 | 61M | 94.0% | 29 / 62 | 39 / 22 | 7M | 4M |
| Q1 2026 | 140 | 58M | 88.7% | 51 / 58 | 17 / 28 | 20M | 3M |
| Q4 2025 | 119 | 43M | 65.7% | 47 / 37 | 24 / 8 | 11M | 3M |
| Q3 2025 | 80 | 35M | 53.4% | 14 / 24 | 20 / 7 | 2M | 2M |
| Q2 2025 | 73 | 34M | 52.3% | 11 / 34 | 12 / 5 | 2M | 1M |
| Q1 2025 | 67 | 32M | 49.8% | 13 / 14 | 21 / 10 | 3M | 2M |
| Q4 2024 | 65 | 32M | 48.7% | 35 / 13 | 7 / 14 | 9M | 2M |
| Q3 2024 | 44 | 25M | 38.0% | 44 / 0 | 0 / 0 | 25M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of ZBIO | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Health Care Fund | 2,937,055 | 4.51% | $92.34M | 0.24% | Jul 31, 2026 |
| SMALLCAP World Fund Inc | 2,434,000 | 3.73% | $61.77M | 0.07% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Biotech ETF | 1,349,396 | 2.07% | $34.25M | 0.32% | Jun 30, 2026 |
| Federated Hermes Kaufmann Fund | 1,330,000 | 2.04% | $41.82M | 0.85% | Jul 31, 2026 |
| Select Health Care Portfolio | 1,080,000 | 1.66% | $19.87M | 0.34% | May 31, 2026 |
| Strategic Advisers Fidelity U.S. Total Stock Fund | 1,008,169 | 1.55% | $18.55M | 0.01% | May 31, 2026 |
| Fidelity Small Cap Growth Fund | 988,639 | 1.52% | $31.08M | 0.35% | Jul 31, 2026 |
| Federated Hermes Kaufmann Small Cap Fund | 897,000 | 1.38% | $28.20M | 0.99% | Jul 31, 2026 |
| Vanguard Total Stock Market Index Fund | 891,196 | 1.37% | $22.62M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 744,852 | 1.14% | $18.90M | 0.02% | Jun 30, 2026 |
| Fidelity Stock Selector Small Cap Fund | 662,841 | 1.02% | $20.84M | 0.28% | Jul 31, 2026 |
| Fidelity Small Cap Growth K6 Fund | 531,120 | 0.81% | $16.70M | 0.36% | Jul 31, 2026 |
| Fidelity Advisor Health Care Fund | 500,000 | 0.77% | $15.72M | 0.50% | Jul 31, 2026 |
| Fidelity Advisor Biotechnology Fund | 491,724 | 0.75% | $15.46M | 0.70% | Jul 31, 2026 |
| AB Small Cap Growth Portfolio | 467,848 | 0.72% | $11.87M | 0.38% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Leon O. Moulder Jr | See Remarks, Director | 520,083 | 0.80% | Jun 17, 2026 |
| Moltke Lisa von | See Remarks | – | – | Jun 17, 2026 |
| Joseph L. Farmer | See Remarks | 974 | 0.00% | Jun 17, 2026 |
| Jennifer A. Fox | See Remarks | 1,592 | 0.00% | Jun 17, 2026 |
| Orlando Oliveira | See Remarks | – | – | Jun 12, 2025 |
| Christy J. Oliger | Director | – | – | Sep 2, 2026 |
| John J. Orloff | Director | – | – | Jun 17, 2026 |
| Patrick G. Enright | Director | 1,844,659 | 2.83% | Jun 17, 2026 |
| Jason Raleigh Nunn | Director | 3,119,959 | 4.79% | Jun 17, 2026 |
| Patricia L. Allen | Director | 19,860 | 0.03% | Jun 17, 2026 |
| James P. Boylan | Director | – | – | Jun 17, 2026 |
| Hongbo Lu | Director | 426,736 | 0.65% | Jun 17, 2026 |
| Funds Management LLC Fairmount | Director | 1,892,806 | 2.90% | Apr 1, 2026 |
| Tomas Kiselak | Director | 2,359,025 | 3.62% | Apr 1, 2026 |
| Healthcare Fund II L.P. Fairmount | Director | 287,915 | 0.44% | Apr 1, 2026 |
| Peter Evan Harwin | Director | 2,209,025 | 3.39% | Apr 1, 2026 |
| Ting Xiao | Director | 10,000 | 0.02% | Apr 28, 2025 |
| Pharma Inc. InnoCare | 10% owner | 7,000,000 | 10.74% | Sep 8, 2026 |
| Simeon George | 10% owner | – | – | Oct 14, 2025 |
| Sr One Capital Management, Llc | 10% owner | 5,037,854 | 7.73% | Oct 14, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Leon O. Moulder Jr Chief Executive Officer, Director | May 18, 2026 | Buy | +60,000 | $16.88 | $1.01M | 96,928 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Apr 29, 2026 | Buy | +35,000 | $17.62 | $616.70K | 1,786,039 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Apr 28, 2026 | Buy | +25,000 | $18.02 | $450.50K | 1,751,039 |
| Hongbo Lu Director | Mar 31, 2026 | Buy | +3,768 | $18.63 | $70.20K | 426,736 |
| Tomas Kiselak Director | Mar 31, 2026 | Buy | +150,000 | $20.00 | $3.00M | 2,359,025 |
| Hongbo Lu Director | Mar 31, 2026 | Buy | +75,000 | $20.00 | $1.50M | 422,968 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Mar 31, 2026 | Buy | +34,000 | $19.31 | $656.54K | 1,726,039 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Mar 30, 2026 | Buy | +20,000 | $18.23 | $364.60K | 1,692,039 |
| Patricia L. Allen Director | Feb 13, 2026 | Buy | +4,160 | $26.36 | $109.66K | 19,860 |
| Patricia L. Allen Director | Feb 12, 2026 | Buy | +5,000 | $26.50 | $132.50K | 15,700 |
| Patricia L. Allen Director | Feb 12, 2026 | Buy | +5,000 | $23.77 | $118.85K | 5,000 |
| Patricia L. Allen Director | Feb 12, 2026 | Buy | +5,700 | $24.34 | $138.74K | 10,700 |
| Hongbo Lu Director | Feb 11, 2026 | Buy | +25,985 | $22.50 | $584.66K | 347,968 |
| Jennifer A. Fox See Remarks | Feb 5, 2026 | Award | +1,592 | $13.35 | $21.25K | 1,592 |
| Joseph L. Farmer See Remarks | Feb 5, 2026 | Award | +974 | $13.35 | $13.00K | 974 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Feb 2, 2026 | Buy | +57,000 | $17.96 | $1.02M | 423,155 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Jan 9, 2026 | Buy | +20,000 | $16.55 | $331.00K | 366,155 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Jan 8, 2026 | Buy | +30,000 | $16.30 | $489.00K | 346,155 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Jan 7, 2026 | Buy | +50,000 | $16.38 | $819.00K | 316,155 |
| Sr One Capital Management, Llc 10% owner | Oct 9, 2025 | Buy | +63,158 | $19.00 | $1.20M | 1,173,395 |
| Sr One Capital Management, Llc 10% owner | Oct 9, 2025 | Buy | +63,157 | $19.00 | $1.20M | 1,917,895 |
| Jason Raleigh Nunn Director | Oct 9, 2025 | Buy | +63,158 | $19.00 | $1.20M | 1,173,395 |
| Patrick G. Enright Director | Oct 9, 2025 | Buy | +11,990 | $20.85 | $249.99K | 11,990 |
| Patrick G. Enright Director | Oct 9, 2025 | Buy | +105,265 | $19.00 | $2.00M | 1,832,669 |
| Leon O. Moulder Jr See Remarks, Director | Oct 7, 2025 | Buy | +36,928 | $20.85 | $769.95K | 36,928 |
| Peter Evan Harwin Director | Oct 7, 2025 | Buy | +316,219 | $19.00 | $6.01M | 2,209,025 |
| Hongbo Lu Director | Oct 7, 2025 | Buy | +263,160 | $19.00 | $5.00M | 321,983 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Feb 18, 2025 | Buy | +25,000 | $6.67 | $166.75K | 266,155 |
| Ting Xiao Director | Feb 7, 2025 | Buy | +10,000 | $7.76 | $77.60K | 10,000 |
| Ting Xiao Director | Feb 7, 2025 | Buy | +10,000 | $7.76 | $77.60K | 47,000 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Dec 4, 2024 | Buy | +45,000 | $9.98 | $449.10K | 241,155 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Dec 3, 2024 | Buy | +25,000 | $10.76 | $269.00K | 196,155 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Nov 19, 2024 | Buy | +2,500 | $14.57 | $36.43K | 171,155 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Nov 18, 2024 | Buy | +7,500 | $15.00 | $112.50K | 168,655 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Sep 20, 2024 | Buy | +2,367 | $17.88 | $42.32K | 1,669,406 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Sep 20, 2024 | Buy | +2,633 | $18.97 | $49.95K | 1,672,039 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Sep 19, 2024 | Buy | +5,000 | $17.89 | $89.45K | 1,667,039 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Sep 18, 2024 | Buy | +10,000 | $17.91 | $179.10K | 1,662,039 |
| Zebra Aggregator, LP 10% owner | Sep 16, 2024 | Buy | +882,353 | $17.00 | $15.00M | 3,761,359 |
| Zebra Aggregator, LP 10% owner | Sep 16, 2024 | Conversion | +2,879,006 | – | – | 2,879,006 |
| Biomedical Innovation Master Investors (Cayman) I. L.P. Wellington 10% owner | Sep 16, 2024 | Conversion | +200,718 | – | – | 801,624 |
| Biomedical Innovation Master Investors (Cayman) I. L.P. Wellington 10% owner | Sep 16, 2024 | Conversion | +180,635 | – | – | 180,635 |
| Biomedical Innovation Master Investors (Cayman) I. L.P. Wellington 10% owner | Sep 16, 2024 | Conversion | +420,271 | – | – | 600,906 |
| Funds Management LLC Fairmount Director | Sep 16, 2024 | Buy | +300,000 | $17.00 | $5.10M | 1,892,806 |
| Funds Management LLC Fairmount Director | Sep 16, 2024 | Conversion | +41,130 | – | – | 329,045 |
| Funds Management LLC Fairmount Director | Sep 16, 2024 | Conversion | +252,890 | – | – | 581,935 |
| Funds Management LLC Fairmount Director | Sep 16, 2024 | Conversion | +301,077 | – | – | 1,592,806 |
| Funds Management LLC Fairmount Director | Sep 16, 2024 | Conversion | +709,794 | – | – | 1,291,729 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Sep 16, 2024 | Conversion | +372,017 | – | – | 1,652,039 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Sep 16, 2024 | Conversion | +164,523 | – | – | 1,280,022 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Sep 16, 2024 | Conversion | +108,381 | – | – | 112,901 |
| Leon O. Moulder Jr Chief Executive Officer, Director | Sep 16, 2024 | Conversion | +48,254 | – | – | 161,155 |
| Sr One Capital Management, Llc 10% owner | Sep 16, 2024 | Buy | +441,176 | $17.00 | $7.50M | 1,946,564 |
| Sr One Capital Management, Llc 10% owner | Sep 16, 2024 | Buy | +1,352,942 | $17.00 | $23.00M | 1,854,738 |
| Sr One Capital Management, Llc 10% owner | Sep 16, 2024 | Conversion | +1,505,388 | – | – | 1,505,388 |
| Sr One Capital Management, Llc 10% owner | Sep 16, 2024 | Buy | +441,176 | $17.00 | $7.50M | 1,110,237 |
| Sr One Capital Management, Llc 10% owner | Sep 16, 2024 | Conversion | +669,061 | – | – | 669,061 |
| Sr One Capital Management, Llc 10% owner | Sep 16, 2024 | Conversion | +501,796 | – | – | 501,796 |
| Peter Evan Harwin Director | Sep 16, 2024 | Conversion | +41,130 | – | – | 41,140 |
| Peter Evan Harwin Director | Sep 16, 2024 | Conversion | +252,890 | – | – | 294,020 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Zebra Aggregator, LP Affiliate | Aug 19, 2026 | 1,000,000 | $31.91M | Aug 19, 2026 | Series B |