Zosano Pharma (ZSAN) Shares Down 8.2%

Zosano Pharma Corp (NASDAQ:ZSAN)’s share price was down 8.2% on Friday . The company traded as low as $0.40 and last traded at $0.45. Approximately 1,258,334 shares traded hands during trading, an increase of 158% from the average daily volume of 487,723 shares. The stock had previously closed at $0.49.

Separately, ValuEngine raised Zosano Pharma from a “strong sell” rating to a “sell” rating in a research report on Sunday, December 31st.

Zosano Pharma (NASDAQ:ZSAN) last announced its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). equities analysts predict that Zosano Pharma Corp will post -0.9 EPS for the current fiscal year.

In other Zosano Pharma news, Director Kenneth Greathouse purchased 50,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $0.62 per share, with a total value of $31,000.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at $21,700. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have acquired 200,000 shares of company stock worth $123,450. Company insiders own 2.95% of the company’s stock.

An institutional investor recently raised its position in Zosano Pharma stock. Vanguard Group Inc. raised its position in shares of Zosano Pharma Corp (NASDAQ:ZSAN) by 20.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,217,323 shares of the biotechnology company’s stock after acquiring an additional 209,251 shares during the period. Vanguard Group Inc. owned approximately 3.11% of Zosano Pharma worth $1,716,000 at the end of the most recent quarter. Institutional investors and hedge funds own 19.41% of the company’s stock.

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Zosano Pharma Company Profile

Zosano Pharma Corporation is a clinical-stage specialty pharmaceutical company. The Company has developed a transdermal microneedle patch system to deliver its formulations of existing drugs through the skin for the treatment of a range of indications. Its microneedle patch system offers consistent drug delivery and improved ease of use and room-temperature stability.

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