Zosano Pharma Corp (NASDAQ:ZSAN)’s share price dropped 8.6% on Wednesday . The stock traded as low as $0.64 and last traded at $0.64. Approximately 589,667 shares traded hands during trading, a decline of 60% from the average daily volume of 1,474,916 shares. The stock had previously closed at $0.70.

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

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

In other news, Director Kenneth Greathouse acquired 95,000 shares of Zosano Pharma stock in a transaction on Friday, December 1st. The stock was acquired at an average cost of $0.62 per share, with a total value of $58,900.00. Following the completion of the acquisition, the director now owns 95,000 shares in the company, valued at $58,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have acquired 200,000 shares of company stock valued at $123,450. 2.95% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Zosano Pharma stock. Vanguard Group Inc. lifted its stake in Zosano Pharma Corp (NASDAQ:ZSAN) by 20.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,217,323 shares of the biotechnology company’s stock after acquiring an additional 209,251 shares during the period. Vanguard Group Inc. owned approximately 3.11% of Zosano Pharma worth $1,716,000 at the end of the most recent reporting period. 19.41% of the stock is currently owned by institutional investors and hedge funds.

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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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