Zosano Pharma (ZSAN) Trading 8.6% Higher After Insider Buying Activity

Zosano Pharma Corp (NASDAQ:ZSAN)’s share price traded up 8.6% during trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $0.65 and last traded at $0.63. 938,136 shares were traded during trading, a decline of 38% from the average session volume of 1,508,515 shares. The stock had previously closed at $0.58.

Specifically, Director Kenneth Greathouse bought 95,000 shares of Zosano Pharma stock in a transaction that occurred 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 owns 95,000 shares in the company, valued at $58,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.95% of the stock is currently owned by corporate insiders.

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

Zosano Pharma (NASDAQ:ZSAN) last posted its earnings results on Thursday, November 9th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). research analysts predict that Zosano Pharma Corp will post -0.79 EPS for the current year.

An institutional investor recently raised its position in Zosano Pharma stock. Vanguard Group Inc. boosted its stake in Zosano Pharma Corp (NASDAQ:ZSAN) by 20.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,217,323 shares of the biotechnology company’s stock after buying an additional 209,251 shares during the quarter. Vanguard Group Inc. owned approximately 3.11% of Zosano Pharma worth $1,716,000 as of its most recent filing with the SEC. 19.68% of the stock is owned by institutional investors.

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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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