Zosano Pharma Corp (NASDAQ:ZSAN) shares traded up 4% during mid-day trading on Wednesday . The stock traded as high as $18.43 and last traded at $16.04. 801,042 shares were traded during mid-day trading, a decline of 34% from the average session volume of 1,217,001 shares. The stock had previously closed at $16.70.
Separately, ValuEngine cut Zosano Pharma from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 27th.
The company has a market cap of $30.36, a PE ratio of -0.93 and a beta of 1.84.
In other Zosano Pharma news, major shareholder Amzak Capital Management, Llc sold 88,281 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $8.40, for a total transaction of $741,560.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.83% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Zosano Pharma by 20.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,217,323 shares of the biotechnology company’s stock valued at $1,716,000 after purchasing an additional 209,251 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Zosano Pharma by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 257,673 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 19,680 shares during the last quarter. Highlander Capital Management LLC purchased a new stake in shares of Zosano Pharma during the 4th quarter valued at $104,000. Finally, Northern Trust Corp lifted its holdings in shares of Zosano Pharma by 591.4% during the 2nd quarter. Northern Trust Corp now owns 79,234 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 67,774 shares during the last quarter.
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About Zosano Pharma
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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