Zosano Pharma Corp (NASDAQ:ZSAN) Sees Large Growth in Short Interest

Zosano Pharma Corp (NASDAQ:ZSAN) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,100,000 shares, a growth of 29.6% from the September 30th total of 1,620,000 shares. Approximately 12.6% of the company’s shares are short sold. Based on an average trading volume of 307,500 shares, the short-interest ratio is currently 6.8 days.

ZSAN has been the topic of a number of recent analyst reports. Zacks Investment Research cut Zosano Pharma from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. ValuEngine upgraded Zosano Pharma from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in Zosano Pharma in the second quarter valued at approximately $36,000. Wedbush Securities Inc. acquired a new position in Zosano Pharma in the second quarter valued at approximately $68,000. FNY Investment Advisers LLC acquired a new position in Zosano Pharma in the third quarter valued at approximately $234,000. BlackRock Inc. lifted its holdings in Zosano Pharma by 17.7% in the second quarter. BlackRock Inc. now owns 366,876 shares of the biotechnology company’s stock valued at $1,200,000 after acquiring an additional 55,105 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Zosano Pharma by 118.6% in the second quarter. Vanguard Group Inc. now owns 957,025 shares of the biotechnology company’s stock valued at $3,129,000 after acquiring an additional 519,305 shares during the last quarter. Hedge funds and other institutional investors own 34.09% of the company’s stock.

ZSAN opened at $1.97 on Friday. Zosano Pharma has a one year low of $1.41 and a one year high of $6.65. The stock has a market capitalization of $34.91 million, a PE ratio of -0.53 and a beta of 2.67. The business’s 50 day moving average price is $1.90 and its 200 day moving average price is $2.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.22 and a current ratio of 1.22.

Zosano Pharma (NASDAQ:ZSAN) last released its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.01. As a group, equities research analysts forecast that Zosano Pharma will post -2.48 earnings per share for the current fiscal year.

About Zosano Pharma

Zosano Pharma Corporation, a clinical stage biopharmaceutical company, focuses on providing therapeutics to patients suffering from migraine using its Adhesive Dermally-Applied Microarray technology. Its lead product candidate is M207, a proprietary formulation of zolmitriptan used for the treatment of migraine.

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