SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 6.8% Passive Stake in Zenas BioPharma Inc.

FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, reporting a passive beneficial ownership of 6.8% of Zenas BioPharma Inc.'s common stock as of March 31, 2025.

Summary

• FMR LLC and Abigail P. Johnson have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in Zenas BioPharma Inc.
• As of March 31, 2025, FMR LLC and Abigail P. Johnson collectively beneficially own 2,852,371 shares of Zenas BioPharma Inc.'s common stock.
• This represents 6.8% of the total outstanding common stock of Zenas BioPharma Inc.
• FMR LLC holds sole voting power over 2,852,150 shares and sole dispositive power over 2,852,371 shares.
• Abigail P. Johnson, as a Director, Chairman, and CEO of FMR LLC, is deemed to beneficially own the same 2,852,371 shares, with sole dispositive power.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
• The filing was made jointly by FMR LLC and Abigail P. Johnson under a Rule 13d-1(k)(1) agreement.
• Subsidiaries of FMR LLC, including Fidelity Management & Research Company LLC, FIAM LLC, and Fidelity Institutional Asset Management Trust Company, are identified as entities that beneficially own shares, with Fidelity Management & Research Company LLC owning 5% or greater.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing indicating a significant, but passive, institutional investment. It doesn't contain positive or negative operational news, but the presence of a large, stable investor like FMR LLC can be seen as a minor positive signal of confidence.

Positives

• A significant institutional investor, FMR LLC, maintains a notable 6.8% stake, indicating continued confidence in Zenas BioPharma Inc.
• The filing explicitly states the stake is passive, acquired and held in the ordinary course of business, which suggests no immediate intent for activist intervention or control changes.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of beneficial ownership by a major institutional investor in the biopharmaceutical sector. It indicates FMR LLC's continued investment in Zenas BioPharma Inc., a company operating within the biopharma industry. Such filings are common for large asset managers who hold significant, but passive, stakes in publicly traded companies across various industries.

Comparison to Industry Standards

• This is a standard Schedule 13G filing, which is a regulatory requirement for investors acquiring more than 5% of a company's stock.
• The 6.8% stake held by FMR LLC is a significant, but passive, position typical for large asset management firms like Fidelity (FMR LLC's parent).
• There are no specific comparable companies, projects, or results mentioned in this filing to assess against industry standards beyond the ownership percentage itself, which is within the normal range for institutional passive investments.

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by a major institutional investor like FMR LLC may provide a degree of confidence or stability regarding the company's shareholder base.

Key Dates

Keywords

Zenas BioPharma Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Biopharma, SEC Filing, Passive Investment