Zosano Pharma Co. (NASDAQ:ZSAN) Short Interest Update

Zosano Pharma Co. (NASDAQ:ZSANGet Rating) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 370,200 shares, a decline of 96.2% from the March 31st total of 9,620,000 shares. Approximately 7.6% of the company’s stock are sold short. Based on an average daily trading volume, of 489,100 shares, the days-to-cover ratio is presently 0.8 days.

ZSAN has been the subject of several recent analyst reports. StockNews.com assumed coverage on shares of Zosano Pharma in a research report on Tuesday, April 19th. They set a “sell” rating for the company. BTIG Research downgraded shares of Zosano Pharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 23rd.

A number of hedge funds and other institutional investors have recently modified their holdings of ZSAN. Morgan Stanley grew its stake in Zosano Pharma by 954.9% in the 1st quarter. Morgan Stanley now owns 45,879 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 41,530 shares during the last quarter. Millennium Management LLC acquired a new stake in Zosano Pharma in the 2nd quarter valued at about $65,000. Barclays PLC grew its stake in Zosano Pharma by 50.0% in the 3rd quarter. Barclays PLC now owns 300,000 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 100,000 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Zosano Pharma by 263.9% during the 3rd quarter. Citadel Advisors LLC now owns 146,166 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 105,999 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Zosano Pharma by 95.7% during the 3rd quarter. LPL Financial LLC now owns 58,700 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 28,700 shares during the last quarter. 10.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:ZSAN traded down $0.03 on Wednesday, reaching $1.97. 7,573 shares of the company were exchanged, compared to its average volume of 415,173. Zosano Pharma has a 1-year low of $1.96 and a 1-year high of $37.45. The firm has a market cap of $9.54 million, a price-to-earnings ratio of -0.21 and a beta of 2.98. The company has a 50-day moving average of $7.71 and a 200-day moving average of $15.00.

Zosano Pharma (NASDAQ:ZSANGet Rating) last posted its quarterly earnings results on Thursday, March 17th. The biotechnology company reported ($2.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.45) by $0.35. Zosano Pharma had a negative net margin of 3,812.10% and a negative return on equity of 80.12%. The business had revenue of $0.09 million for the quarter. As a group, analysts expect that Zosano Pharma will post -7.69 earnings per share for the current year.

Zosano Pharma Company Profile (Get Rating)

Zosano Pharma Corporation, a clinical stage biopharmaceutical company, focuses on providing therapeutics and other bioactive molecules to patients suffering from migraine using its transdermal microneedle system. Its lead product candidate is Qtrypta (M207), a proprietary formulation of zolmitriptan used for the acute treatment of migraine.

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