Stock Ratings / Health Care / ZBIO / dividends

GENB (52) AGIO (35) ADRX (48) TRAX (44) ⌘ Pro Terminal →

Zenas BioPharma Inc. (ZBIO) Dividend Safety Gauge & 10-Year DRIP Compounder

$28.39 -1.29% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $28.27

Zenas BioPharma Inc. (ZBIO) carries a Roarable Rating of D- (Sell) with 38/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

📊 Historical Track Record Warning: Scores below 50 (38/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows →

ROARABLE D- • RED ALERT Cap $1.85B

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on ZBIO Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is ZBIO stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

▼

As of 2026-11-03, Zenas BioPharma Inc. (NASDAQ: ZBIO) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 38/100 at a spot price of $28.39 (-1.29% 1D, market cap $1.85B). Pillar breakdown: Fundamental Cash Engine 8/20, Institutional 13F & Options Flow 9/20, Executive Insider Alignment 7/20, FRED Macro Regime Fit 11/20, and SEC Balance-Sheet Forensics 3/20. Across 1016 tracked Health Care issuers, ZBIO ranks #500 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does ZBIO compare to GENB and AGIO in the Health Care sector?

▼

Within the Health Care sector (Biotechnology: Pharmaceutical Preparations), ZBIO carries a Roarable D- (38/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, GENB (Generate Biomedicines Inc.) holds a D+ grade (52/100 RQD, P/E N/A, ROIC —, cap $1.86B) and AGIO (Agios Pharmaceuticals Inc.) posts a D- grade (35/100 RQD, P/E N/A, ROIC -33.8%, cap $1.82B). Among the 5-stock peer group, ZBIO leads on earnings multiple (N/A) while AGIO leads on capital efficiency (-33.8% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for ZBIO?

▼

Per ZBIO's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001953926), Zenas BioPharma Inc. generated $10.0M in revenue (+100.0% YoY), -$377.7M in net income, and -$172.4M in free cash flow against $383.6M in total assets and $78.6M in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $28.27 (-0.42%)🧬 Dilution Drag (+2.48% YoY Shares)⚙️ Cash Engine: 8/20 (D-) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (38/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows (-7.8% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERRED ALERT • D-

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk D

Each axis scored 0–20

12M PRICE TARGET CONE-9% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for ZBIO)Realized 20D OHLCV Swing Band: ±12.5%

Deterministic 5-Pillar Attribution (38/100 Composite)

🔍 WHY ZBIO SCORES 38/100 (D-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Macro Regime Fit+11/20 pts (29% of score)

FRED Regime × Technicals: 48% of 52W Range • RSI-14 at 52 (NEUTRAL RANGE)

▲ #2 Bullish Driver: Whale & Options Positioning+9/20 pts (24% of score)

20D Institutional Volume Accumulation (±12.5% realized swing band)

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade E$25.16+12% Next Q

Q2 (-2Q)

Grade E$28.18-3.1% Next Q

Q3 (-1Q)

Grade E$27.30+4% Next Q

Current

Grade D-$28.39-7.8% Hist 90D α

Trajectory: E (30) → D- (38)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a ZBIO Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While ZBIO currently carries a cautious 38/100 (D-) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($29.34) and Max Pain ($29.81) forces dealer call-delta covering toward $46.83.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $ZBIO• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “ZBIO Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 38%NO 62%Trade / Inspect Odds →

CASH DIVIDEND + BUYBACK YIELD

0.6% Total Yield

0% Cash ($0.00/yr) + 0.6% Buybacks

PAYOUT SAFETY SPEEDOMETER

74/100 • REINVESTING IN GROWTH + BUYBACKS

FREE CASH FLOW PAYOUT RATIO

0% (100% Reinvested)

Retains cash flow for R&D and share repurchases

INTERACTIVE DRIP & SHAREHOLDER-YIELD COMPOUNDER (15.1% EST. ANNUAL)

$10,000 Compounded Over 10 Years → $40,809

Est. Year-10 Shareholder Yield: $245/yr

Starting Investment: $10,000

Compounding Horizon: 10 Years

$11.5K

Yr 1

$13.2K

Yr 2

$15.2K

Yr 3

$17.6K

Yr 4

$20.2K

Yr 5

$23.3K

Yr 6

$26.8K

Yr 7

$30.8K

Yr 8

$35.5K

Yr 9

$40.8K

Yr 10

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring ZBIO)

✓Walkthrough of ZBIO's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

Want Custom AI PineScript / Python Indicators & Priority Rating-Change Alerts?

Join Founding VIP Waitlist (No Card Required) →$100K Arena

ZBIO // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +31.68%📐 HORIZONTAL RANGE

2026-11-03O $28.76H $28.76L $28.39C $28.39VOL 358.1K

RES: $33.70SUP: $23.20SMA50: $29.34SMA200: $25.04

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

ZBIO Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 ZBIO Butterfly Map → + Track ZBIO →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

8.0%/yr Implied 5Y Growth

vs. +100.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on ZBIO today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for ZBIO. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for ZBIO today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (ZBIO)

Health Care Rank #500 of 1016 ⚔️ GENB vs ZBIO Full Matrix →

1. Head-to-Head Health Care Peer Comparison (ZBIO vs. GENB, AGIO, ADRX, TRAX)

Industry: Biotechnology: Pharmaceutical Preparations (489 Tracked Issuers)

Across 1016 tracked Health Care securities in the Roarable RQD universe, Zenas BioPharma Inc. (ZBIO) ranks #500 by composite RQD confidence (38/100, grade D-) and #271 by equity capitalization ($1.85B). Within this direct 5-issuer industry benchmark cohort, ZBIO leads on earnings valuation at N/A trailing P/E, while AGIO leads on capital efficiency and profitability with -33.8% ROIC and 88.3% gross margin. GENB currently holds the highest overall quantitative score in the immediate peer group at 52/100 (D+) compared with ZBIO at 38/100 (D-).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
ZBIO ACTIVE Zenas BioPharma Inc.	D-	38/100	—	—	-35.0%	-1.29%	$1.85B	Benchmark Subject
GENB Generate Biomedicines Inc.	D+	52/100	—	—	—	-8.31%	$1.86B	/genb-vs-zbio →
AGIO Agios Pharmaceuticals Inc.	D-	35/100	—	88.3%	-33.8%	-17.94%	$1.82B	/agio-vs-zbio →
ADRX ADARx Pharmaceuticals Inc.	D	48/100	—	—	—	-4.76%	$1.82B	/adrx-vs-zbio →
TRAX First Tracks Biotherapeutics Inc.	D	44/100	—	—	-35.0%	-0.32%	$1.89B	/trax-vs-zbio →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001953926

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Zenas BioPharma Inc. (ZBIO) reported GAAP revenue of $10.0M (+100.0% vs. FY2024 revenue of $5.0M , and -80.0% cumulative change since FY2023) , GAAP net income of -$377.7M, operating cash flow of -$172.3M, and free cash flow of -$172.4M (-43.9% YoY). On the balance sheet, ZBIO closed FY2025 with $383.6M in total assets against $78.6M in total debt (Altman Z-Score: 2.79, Piotroski F-Score: 4/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$10.0M	-$377.7M	-$172.3M	-$172.4M	$383.6M	$78.6M
FY2024 (FY)	2024-12-31	$5.0M	-$157.0M	-$119.7M	-$119.8M	$370.0M	—
FY2023 (FY)	2023-12-31	$50.0M	-$37.1M	-$30.5M	-$30.5M	—	—

3. ZBIO Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is ZBIO stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does ZBIO compare to GENB and AGIO in the Health Care sector?

What are the biggest fundamental strengths and SEC risk factors for ZBIO?

Where is ZBIO trading relative to its 50-day, 200-day, and 52-week technical levels?

ZBIO last traded at $28.39 (-1.29% on volume of 358,088 shares), positioning the stock -3.24% below its 50-day simple moving average ($29.34) and +13.38% above its 200-day simple moving average ($25.04). Across its 52-week range of $13.50 to $44.60, ZBIO sits at the 47.9% percentile with a 14-day RSI of 52.0 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($24.84 to $31.94).

ZBIO Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

Does ZBIO pay a dividend and is it safe?

Zenas BioPharma Inc. (ZBIO) offers a 0% cash dividend yield ($0.00 annualized) and 0.6% total shareholder yield including buybacks. Roarable rates its payout coverage as REINVESTING IN GROWTH + BUYBACKS.

Direct Sub-Reports: ZBIO RQD Cockpit ZBIO 12M Forecast ZBIO Earnings & Move ZBIO Dividends & DRIP ZBIO Insiders & 13F ZBIO Whale Options ZBIO Profit Sankey ZBIO News & Why

ROARABLE RATING BRIEF • RQD 38/100 (D-) ✓ STAGE-C NUMBER FIREWALL VERIFIED

ZBIO — Zenas BioPharma Inc.: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:27:27Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, ZBIO scores 40 out of 100, a letter grade of D-, with the verdict "Roarable Sell — Vulnerable Balance Sheet & Flow." The five pillars are:

Fundamental Cash Engine: 8 / 20. Per the Roarable RQD rating, this pillar reflects ROIC of -35% and an FCF yield of -9.19%. For a prospective investor, the cash-generation case is currently negative: the company is consuming cash rather than producing it, so the valuation rests on future cash flows that are not yet visible in the reported numbers.
Whale / 13F Flow: 11 / 20. Per the Roarable RQD rating, this pillar is described as reflecting institutional accumulation and options positioning. The underlying 13F holder detail is not available in source data, so the strength of this signal cannot be independently verified here.
Insider Conviction: 3 / 20. Per the Roarable RQD rating, this is the weakest pillar, tied to SEC Form 4 and Congressional PTR cluster flow. Insider and congressional holder detail is not available in source data, but the low score indicates the rating does not find insider-side conviction supportive.
Macro Regime Fit: 11 / 20. Per the Roarable RQD rating, this pillar reflects a beta of 1.0 and sector sensitivity. A beta of 1.0 means the stock is expected to move broadly in line with the market, so it offers no defensive cushion and no obvious macro tailwind from the rating's perspective.
Forensic Balance Sheet: 7 / 20. Per the Roarable RQD rating, this pillar references an Altman Z of 2.79, a Piotroski F-Score of 4/9, and a Debt/Equity of 0.32. The Altman Z sits in a range the rating treats as a middle zone rather than a clear distress signal, while the Piotroski score of 4/9 indicates mixed fundamental health.

Investor implications. The upside case rests on the stock's news flow and institutional interest rather than on current earnings, which are deeply negative. The valuation tradeoff is that without positive earnings or free cash flow, traditional multiples cannot anchor the price, and the 52-week range ($13.5 - $44.6) shows the stock has been highly volatile. The balance sheet is a relative strength within the rating's framework (Debt/Equity of 0.32, cash of $110.6M against debt of $78.6M in FY 2025), but the cash burn rate means that position may erode without new financing or revenue growth. The overall verdict is that the rating does not view the current risk/reward as favorable.

Business

Zenas BioPharma Inc. (ZBIO) is a NASDAQ-listed issuer in the Health Care sector, operating in the Biotechnology: Pharmaceutical Preparations industry. Per the company profile, the company has a market capitalization of $1.9B. Source data does not describe the company's specific products, customers, or revenue model. Reported FY 2025 revenue of $10.0M per the SEC financials is the only revenue-side detail available.

Financial Trend

Period	Revenue	Operating Income	Net Income	EPS	FCF	Cash	Debt
FY 2025	$10.0M	$-383.1M	$-377.7M	N/A	$-172.4M	$110.6M	$78.6M
FY 2024	$5.0M	$-163.9M	$-157.0M	N/A	$-119.8M	$319.7M	N/A
FY 2023	$50.0M	$-37.1M	$-37.1M	N/A	$-30.5M	N/A	N/A

Per the SEC financials, the company reported losses in every period shown, with operating margin and net margin both at -60% per the market data. Revenue moved from $50.0M in FY 2023 to $5.0M in FY 2024 and $10.0M in FY 2025. Per the Roarable RQD rating, ROIC is -35%, the Altman Z-Score is 2.79, and the Piotroski F-Score is 4/9. Cash declined from $319.7M in FY 2024 to $110.6M in FY 2025, and reported debt of $78.6M in FY 2025 gives a Debt/Equity of 0.32 per the rating.

Open Questions

What specific products, indications, or revenue streams generate the $10.0M of reported FY 2025 revenue?
What is the company's cash runway given the -$172.4M FY 2025 free cash flow and $110.6M cash balance?
What were the outcomes and clinical implications of the Phase 3 obexelimab IgG4-RD data that triggered the 5.1% decline?
What are the analyst price targets and consensus rating behind the 77.61% upside headline?
Who are the institutional 13F holders and insiders whose flow contributed to the 11/20 and 3/20 pillar scores?

ZBIO Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Zenas BioPharma Inc. (ZBIO) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to ZBIO Debate Forum (3) ↓

🟢 CATALYST Yahoo Finance • 19h ago

Zenas BioPharma Stock Gains Attention After Long Term Trial Data

Yahoo Finance report covering Zenas BioPharma Inc. (ZBIO) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 22h ago

Zenas BioPharma, Inc. Estimates – NASDAQ:ZBIO

TradingView report covering Zenas BioPharma Inc. (ZBIO) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Wall Street Analysts Predict a 77.61% Upside in Zenas BioPharma, Inc. (ZBIO): Here's What You Should Know

Yahoo Finance report covering Zenas BioPharma Inc. (ZBIO) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Simply Wall St • 1d ago

Phase 3 Data Might Change The Case For Investing In Zenas BioPharma Stock (ZBIO)

Simply Wall St report covering Zenas BioPharma Inc. (ZBIO) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 1d ago

A lupus drug and an oral treatment feature in Zenas’ Oct. 27 research event.

Stock Titan report covering Zenas BioPharma Inc. (ZBIO) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Zenas BioPharma (ZBIO) Is Down 5.1% After New Phase 3 Obexelimab IgG4-RD Data Release

Yahoo Finance report covering Zenas BioPharma Inc. (ZBIO) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Simply Wall St • 1d ago

Zenas BioPharma (ZBIO) Just Gave The Market Something To Think About

Simply Wall St report covering Zenas BioPharma Inc. (ZBIO) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST https://www.dars.gov.et/ • 1d ago

Zenas (ZBIO) Extends Rally with +10.30% Gain 2026-10-20 - Point of Control

https://www.dars.gov.et/ report covering Zenas BioPharma Inc. (ZBIO) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

ZBIO Bull vs. Bear Conversation Board — What's Your Call at $28.39?

🐂 33% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON ZBIO 🐻 67% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk 🐻 BEARISH 🎯 Target: $25.31 (-12.0%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is ZBIO (D- • RQD 40/100) a Buy at $28.76?

Welcome to the ZBIO (Zenas BioPharma Inc.) Roar Pit. Current RQD Composite is 40/100 (Roarable Sell — Vulnerable Balance Sheet & Flow) in Biotechnology: Pharmaceutical Preparations. Bulls point to operating leverage and sector positioning, while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

RE RedlineAuditor Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $23.30 (-19.0%)

Spot @ $28.76

Pump the brakes on ZBIO — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on ZBIO, but look at what you are paying: current EV/EBITDA multiples with tightening sector spreads. Unless Zenas BioPharma Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

MA MacroHawk_NYC Verified K Arena Trader 🐂 BULLISH 🎯 Target: $35.09 (+22.0%)

Spot @ $28.76

ZBIO cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on ZBIO, the market is fixating on short-term headline noise in Biotechnology: Pharmaceutical Preparations and ignoring the balance sheet and cash flow trajectory. At $28.76 (52-wk range $13.50 - $44.60), any beat on forward guidance forces shorts and underweight funds to chase.