Shares of Zosano Pharma Corp (NASDAQ:ZSAN) fell 6.1% during trading on Friday following a dissappointing earnings announcement. The company traded as low as $4.59 and last traded at $4.76. 1,389,244 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 2,495,552 shares. The stock had previously closed at $5.07.
The biotechnology company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.16).
Separately, ValuEngine raised shares of Zosano Pharma from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd.
Hedge funds have recently made changes to their positions in the company. Exencial Wealth Advisors LLC acquired a new stake in shares of Zosano Pharma during the 4th quarter worth approximately $34,000. BlackRock Inc. grew its position in shares of Zosano Pharma by 481.7% during the 2nd quarter. BlackRock Inc. now owns 27,549 shares of the biotechnology company’s stock worth $113,000 after buying an additional 22,813 shares during the period. Northern Trust Corp acquired a new stake in shares of Zosano Pharma during the 2nd quarter worth approximately $119,000. Dimensional Fund Advisors LP acquired a new stake in shares of Zosano Pharma during the 3rd quarter worth approximately $121,000. Finally, Telemetry Investments L.L.C. grew its position in shares of Zosano Pharma by 37.8% during the 4th quarter. Telemetry Investments L.L.C. now owns 219,040 shares of the biotechnology company’s stock worth $464,000 after buying an additional 60,069 shares during the period. 46.57% of the stock is owned by institutional investors.
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Zosano Pharma Company Profile (NASDAQ:ZSAN)
Zosano Pharma Corporation, a clinical stage biopharmaceutical company, focuses on providing therapeutics to patients suffering from migraine using its Adhesive Dermally-Applied Microarray technology. Its lead product candidate is M207, a proprietary formulation of zolmitriptan used for the treatment of migraine.
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