CEO Leon O. Moulder Jr buys $1 million of Zenas BioPharma, Inc. (ZBIO)

Leon O. Moulder Jr, chief executive of Zenas BioPharma, Inc., bought 57,000 shares on the open market on February 2, 2026 at an average of $17.96 a share, for a total of $1 million. The purchase was reported to the SEC on Form 4 on February 3, 2026.

It raised their holding by 16%, to 423,155 shares.

The purchase came after a fall: Zenas BioPharma, Inc. stock was down 33.9% over the 13 weeks before.

2 other insiders also bought at least $10,000 of ZBIO within 30 days, which makes this a cluster buy.

Leon O. Moulder Jr last bought ZBIO on January 9, 2026.

In the 12 months up to this filing, Zenas BioPharma, Inc. insiders reported 4 open-market purchases and 0 sales.

WallStPal Score: 72 out of 100, because of a large purchase; 2 other insiders also bought; the stock had fallen 33.9% in the 13 weeks before; bought by a top executive.

What happened next: after 1 month the stock was up 46.7% (47.6 points better than the S&P 500); after 3 months the stock was up 1.3% (1.9 points worse than the S&P 500); after 6 months the stock was up 82.7% (74.7 points better than the S&P 500). Based on weekly prices from the week of the purchase.

Our read

It is one of 4 insider purchases at ZBIO in the past year, made after a 33.9% fall in 13 weeks, a setup where insider buying has historically mattered most. Insiders buy for many reasons and can be wrong; one purchase is a reason to look closer, not a reason to buy.

Source: SEC Form 4 filing ↗. This story was written automatically from the filing and weekly price data. Information, not investment advice.

Examples

Big insider purchases have made news before. In January 2016, with bank stocks falling, JPMorgan Chase CEO Jamie Dimon bought 500,000 JPMorgan shares, about $26 million of his own money, and the purchase was widely reported as a sign of confidence.

Explain it like I'm 13

Leon O. Moulder Jr helps run Zenas BioPharma, Inc.. Spending $1 million of their own money on the company's stock is like a coach buying a big stack of tickets to their own team's games: it suggests they think the team will do well. It is not a promise, and insiders can be wrong.

More: all ZBIO insider trades · Leon O. Moulder Jr's track record