Director Patricia L. Allen buys $390,088 of Zenas BioPharma, Inc. (ZBIO)

Patricia L. Allen, director of Zenas BioPharma, Inc., bought 15,700 shares on the open market on February 12, 2026 at an average of $24.85 a share, for a total of $390,088. The purchase was reported to the SEC on Form 4 on February 13, 2026.

It is a new position: the filing shows no shares held directly before this purchase.

The purchase came after a fall: Zenas BioPharma, Inc. stock was down 37.7% over the 13 weeks before.

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

In the 12 months up to this filing, Zenas BioPharma, Inc. insiders reported 3 open-market purchases and 0 sales.

WallStPal Score: 61 out of 100, because of a brand-new position; 1 other insider also bought; the stock had fallen 37.7% in the 13 weeks before.

What happened next: after 1 month the stock was up 1.7% (4.3 points better than the S&P 500); after 6 months the stock was up 22.8% (10.8 points better than the S&P 500). Based on weekly prices from the week of the purchase.

Our read

The first open-market purchase by Patricia L. Allen in our records, made after a 37.7% fall in 13 weeks, a setup where insider buying has historically mattered most. A single purchase is a data point, not a forecast: insiders can be early, and sometimes simply wrong.

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

Patricia L. Allen helps run Zenas BioPharma, Inc.. Spending $390,088 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 · Patricia L. Allen's track record