Short Interest in Zosano Pharma Co. (NASDAQ:ZSAN) Drops By 15.6%

Zosano Pharma Co. (NASDAQ:ZSANGet Rating) saw a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 332,300 shares, a decline of 15.6% from the May 15th total of 393,500 shares. Currently, 7.2% of the company’s shares are sold short. Based on an average daily trading volume, of 494,600 shares, the days-to-cover ratio is currently 0.7 days.

Zosano Pharma has a 52-week low of $0.46 and a 52-week high of $37.45. The stock has a fifty day moving average of $4.48 and a two-hundred day moving average of $10.16.

Zosano Pharma (NASDAQ:ZSANGet Rating) last announced its earnings results on Friday, May 13th. The biotechnology company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($1.75) by ($0.01). Zosano Pharma had a negative net margin of 8,375.11% and a negative return on equity of 177.06%.

Several analysts have commented on ZSAN shares. BTIG Research cut Zosano Pharma from a “buy” rating to a “neutral” rating in a report on Wednesday, February 23rd. Maxim Group cut Zosano Pharma from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Finally, StockNews.com started coverage on Zosano Pharma in a report on Tuesday, April 19th. They set a “sell” rating for the company.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Zosano Pharma by 18.9% during the first quarter. Vanguard Group Inc. now owns 5,148,907 shares of the biotechnology company’s stock worth $1,159,000 after acquiring an additional 818,272 shares in the last quarter. State Street Corp increased its position in Zosano Pharma by 4.2% during the first quarter. State Street Corp now owns 436,338 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 17,422 shares during the last quarter. Renaissance Technologies LLC bought a new position in Zosano Pharma during the first quarter valued at $56,000. Citadel Advisors LLC increased 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 valued at $105,000 after acquiring an additional 105,999 shares during the last quarter. Finally, UBS Group AG increased its position in Zosano Pharma by 93.1% during the first quarter. UBS Group AG now owns 144,667 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 69,755 shares during the last quarter.

Zosano Pharma Company Profile (Get Rating)

Zosano Pharma Corporation, a clinical stage biopharmaceutical company, focuses on providing therapeutics and other bioactive molecules to patients suffering from migraine using its transdermal microneedle system. Its lead product candidate is Qtrypta (M207), a proprietary formulation of zolmitriptan used for the acute treatment of migraine.

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