On March 31, 2026, Lu Hongbo, director of Zenas BioPharma, Inc. (NASDAQ:ZBIO), acquired 3,768 shares at $18.63 each, totaling $70,197. This purchase comes amid a turbulent market where Zenas's stock has experienced a 155% return over the past year but has seen a 41% decline year-to-date. Currently trading at $21.41, the stock is considered overvalued according to InvestingPro analysis. Zenas BioPharma recently announced it raised $300 million through public offerings, which includes $200 million from convertible senior notes maturing in 2032 with a 2.50% interest rate. The company is also making strides in its drug pipeline, particularly with its experimental treatment for multiple sclerosis, obexelimab, which achieved a 95% reduction in brain lesions in a Phase 2 clinical trial. Zenas plans to submit a biologics license application for obexelimab in the second quarter of 2026, with a marketing authorization application expected later that year.