Shares of Zosano Pharma Corp (NASDAQ:ZSAN) fell 9.2% during mid-day trading on Tuesday . The stock traded as low as $0.54 and last traded at $0.59. 779,388 shares were traded during mid-day trading, a decline of 47% from the average session volume of 1,464,548 shares. The stock had previously closed at $0.65.

Separately, ValuEngine raised Zosano Pharma from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.

The stock has a market cap of $20.74 and a P/E ratio of -0.45.

Zosano Pharma (NASDAQ:ZSAN) last released its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.05). analysts predict that Zosano Pharma Corp will post -0.9 earnings per share for the current fiscal year.

In other news, Director Kenneth Greathouse purchased 95,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were purchased at an average price of $0.62 per share, with a total value of $58,900.00. Following the purchase, the director now directly owns 95,000 shares of the company’s stock, valued at approximately $58,900. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders acquired a total of 200,000 shares of company stock worth $123,450 in the last three months. Company insiders own 2.95% of the company’s stock.

An institutional investor recently raised its position in Zosano Pharma stock. Northern Trust Corp grew its stake in Zosano Pharma Corp (NASDAQ:ZSAN) by 591.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,234 shares of the biotechnology company’s stock after acquiring an additional 67,774 shares during the period. Northern Trust Corp owned 0.20% of Zosano Pharma worth $112,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 19.41% of the company’s stock.

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Zosano Pharma Company Profile

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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