Zosano Pharma (NASDAQ:ZSAN) Stock Passes Below Fifty Day Moving Average of $0.57

Zosano Pharma Co. (NASDAQ:ZSAN) passed below its fifty day moving average during trading on Friday . The stock has a fifty 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 company’s 50-day moving average price is $0.57 and its 200-day moving average price is $0.67. The firm has a market cap of $62.72 million, a price-to-earnings ratio of -1.83 and a beta of 3.16.

Zosano Pharma (NASDAQ:ZSAN) last announced its earnings results on Wednesday, November 10th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $0.25 million for the quarter, compared to analyst estimates of $0.28 million. Sell-side analysts predict that Zosano Pharma Co. will post -0.28 EPS for the current 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 position in Zosano Pharma during the second quarter worth about $398,000. Vanguard Group Inc. boosted its position in Zosano Pharma by 10.3% during the second quarter. Vanguard Group Inc. now owns 4,227,922 shares of the biotechnology company’s stock worth $4,017,000 after acquiring an additional 395,859 shares during the last quarter. Virtu Financial LLC boosted its position in Zosano Pharma by 730.6% during the second quarter. Virtu Financial LLC now owns 170,596 shares of the biotechnology company’s stock worth $162,000 after acquiring an additional 150,058 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in Zosano Pharma by 263.9% during the third quarter. Citadel Advisors LLC now owns 146,166 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 105,999 shares during the last quarter. 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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