Zosano Pharma (NASDAQ:ZSAN) Share Price Passes Below 50 Day Moving Average of $0.57

Zosano Pharma Co. (NASDAQ:ZSAN) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $0.57 and traded as low as $0.51. Zosano Pharma shares last traded at $0.53, with a volume of 665,485 shares changing hands.

The business’s fifty day simple moving average is $0.57 and its two-hundred day simple moving average is $0.67. The company has a market cap of $62.72 million, a PE ratio of -1.83 and a beta of 3.16.

Zosano Pharma (NASDAQ:ZSAN) last released its quarterly earnings data on Wednesday, November 10th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Zosano Pharma had a negative net margin of 3,367.90% and a negative return on equity of 75.96%. The company had revenue of $0.25 million during the quarter, compared to analysts’ expectations of $0.28 million. As a group, analysts forecast that Zosano Pharma Co. will post -0.28 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in ZSAN. Renaissance Technologies LLC acquired a new stake in shares of Zosano Pharma in the second quarter valued at about $1,284,000. State Street Corp acquired a new stake in shares of Zosano Pharma in the second quarter valued at about $398,000. Vanguard Group Inc. grew its position in shares of Zosano Pharma by 10.3% in the second quarter. Vanguard Group Inc. now owns 4,227,922 shares of the biotechnology company’s stock valued at $4,017,000 after purchasing an additional 395,859 shares during the period. Virtu Financial LLC grew its position in shares of Zosano Pharma by 730.6% in the second quarter. Virtu Financial LLC now owns 170,596 shares of the biotechnology company’s stock valued at $162,000 after purchasing an additional 150,058 shares during the period. Finally, Citadel Advisors LLC grew its position in shares of Zosano Pharma by 263.9% in the third quarter. Citadel Advisors LLC now owns 146,166 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 105,999 shares during the period. Institutional investors and hedge funds own 10.54% of the company’s stock.

Zosano Pharma Company Profile (NASDAQ:ZSAN)

Zosano Pharma Corp. is a clinical stage biopharmaceutical company, which engages in the development of human pharmaceutical products. The firm focuses on providing rapid systemic administration of therapeutics to patients using proprietary intracutaneous microneedle system. It offers Qtrypta, a formulation of zolmitriptan delivered utilizing the intracutaneous microneedle system.

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