Zosano Pharma Corp (NASDAQ:ZSAN) Short Interest Update

Zosano Pharma Corp (NASDAQ:ZSAN) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,100,000 shares, a growth of 29.6% from the September 30th total of 1,620,000 shares. Approximately 12.6% of the company’s shares are sold short. Based on an average daily volume of 307,500 shares, the days-to-cover ratio is currently 6.8 days.

Institutional investors and hedge funds have recently made changes to their positions in the business. Aisling Capital Management LP boosted its stake in Zosano Pharma by 900.0% in the second quarter. Aisling Capital Management LP now owns 16,000,000 shares of the biotechnology company’s stock valued at $5,232,000 after acquiring an additional 14,400,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Zosano Pharma by 118.6% in the second quarter. Vanguard Group Inc. now owns 957,025 shares of the biotechnology company’s stock valued at $3,129,000 after acquiring an additional 519,305 shares in the last quarter. Jane Street Group LLC acquired a new stake in Zosano Pharma in the second quarter valued at approximately $36,000. BlackRock Inc. boosted its stake in Zosano Pharma by 17.7% in the second quarter. BlackRock Inc. now owns 366,876 shares of the biotechnology company’s stock valued at $1,200,000 after acquiring an additional 55,105 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Zosano Pharma in the third quarter valued at approximately $234,000. Institutional investors own 34.09% of the company’s stock.

A number of brokerages have commented on ZSAN. BTIG Research dropped their target price on shares of Zosano Pharma to $16.00 and set an “in-line” rating on the stock in a research note on Friday. Cantor Fitzgerald dropped their target price on shares of Zosano Pharma from $12.00 to $6.00 in a research note on Friday. ValuEngine upgraded shares of Zosano Pharma from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $8.25.

NASDAQ ZSAN opened at $1.91 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.22 and a current ratio of 1.22. The firm’s 50 day moving average price is $1.91 and its 200-day moving average price is $2.60. Zosano Pharma has a 52-week low of $1.41 and a 52-week high of $6.65. The company has a market cap of $35.98 million, a PE ratio of -0.51 and a beta of 2.67.

Zosano Pharma (NASDAQ:ZSAN) last released its quarterly earnings data on Thursday, November 14th. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.03. On average, analysts forecast that Zosano Pharma will post -2.48 earnings per share for the current fiscal year.

About Zosano Pharma

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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