Shares of Zosano Pharma Corp (NASDAQ:ZSAN) shot up 0% during trading on Wednesday . The company traded as high as $0.58 and last traded at $0.57. 618,963 shares traded hands during trading, an increase of 39% from the average session volume of 443,782 shares. The stock had previously closed at $0.57.
Separately, ValuEngine raised shares of Zosano Pharma from a “strong sell” rating to a “sell” rating in a research note on Sunday.
The firm has a market cap of $21.70 and a P/E ratio of -0.48.
In other Zosano Pharma news, Director Kenneth Greathouse acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average price of $0.62 per share, with a total value of $31,000.00. Following the purchase, the director now owns 35,000 shares in the company, valued at $21,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 200,000 shares of company stock valued at $123,450. 2.83% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Zosano Pharma stock. Northern Trust Corp grew its position in Zosano Pharma Corp (NASDAQ:ZSAN) by 591.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,234 shares of the biotechnology company’s stock after buying an additional 67,774 shares during the period. Northern Trust Corp owned 0.20% of Zosano Pharma worth $112,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 19.41% of the company’s stock.
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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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