Zosano Pharma Corporation [NASDAQ: ZSAN] loss -43.18% or -0.76 points to close at $1.00 with a heavy trading volume of 4197870 shares. The company report on June 2, 2022 that Zosano Pharma Files Voluntary Petition for Relief Under Chapter 11.
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Zosano Pharma Corporation (NASDAQ:ZSAN), a clinical-stage biopharmaceutical company, today announced that on June 1, 2022 it filed a voluntary petition for relief under chapter 11 of title 11 (“Chapter 11”) of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), thereby commencing a Chapter 11 case for the company.
Zosano continues to operate its business as a “debtor-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. Zosano is seeking approval of a variety of “first day” motions containing customary relief intended to enable the company to continue its ordinary course operations and to facilitate an orderly wind down of its operations. The company intends to sell substantially all of its assets during the bankruptcy case.
It opened the trading session at $0.8453, the shares rose to $1.0651 and dropped to $0.75, the range by which the price of stock traded the whole day. The daily chart for ZSAN points out that the company has recorded -95.06% loss over the past six months. However, it is still 24.81% higher than its most recent low trading price.
If we look at the average trading volume of 407.53K shares, ZSAN reached to a volume of 4197870 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Zosano Pharma Corporation [ZSAN]:
Maxim Group have made an estimate for Zosano Pharma Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 17, 2019. While these analysts kept the previous recommendation, Piper Jaffray raised their target price to Overweight. The new note on the price target was released on March 24, 2017, representing the official price target for Zosano Pharma Corporation stock. On November 11, 2015, analysts decreased their price target for ZSAN shares from 11 to 7.
The Average True Range (ATR) for Zosano Pharma Corporation is set at 0.24, with the Price to Sales ratio for ZSAN stock in the period of the last 12 months amounting to 6.86. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 2.81.
Trading performance analysis for ZSAN stock
Zosano Pharma Corporation [ZSAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -47.37. With this latest performance, ZSAN shares dropped by -41.18% in over the last four-week period, additionally sinking by -95.06% over the last 6 months – not to mention a drop of -96.44% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ZSAN stock in for the last two-week period is set at 23.37, with the RSI for the last a single of trading hit 17.52, and the three-weeks RSI is set at 27.20 for Zosano Pharma Corporation [ZSAN]. The present Moving Average for the last 50 days of trading for this stock 3.3915, while it was recorded at 1.7020 for the last single week of trading, and 14.5117 for the last 200 days.
Zosano Pharma Corporation [ZSAN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Zosano Pharma Corporation [ZSAN] shares currently have an operating margin of -4016.82 and a Gross Margin at -372.10. Zosano Pharma Corporation’s Net Margin is presently recorded at -3812.10.
Return on Equity for this stock declined to -74.36, with Return on Assets sitting at -49.71.
Zosano Pharma Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.
An analysis of insider ownership at Zosano Pharma Corporation [ZSAN]
There are presently around $2 million, or 7.80% of ZSAN stock, in the hands of institutional investors. The top three institutional holders of ZSAN stocks are: GEODE CAPITAL MANAGEMENT, LLC with ownership of 900,316, which is approximately 3400.179% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 147,104 shares of the stock with an approximate value of $0.26 million in ZSAN stocks shares; and AISLING CAPITAL MANAGEMENT LP, currently with $0.14 million in ZSAN stock with ownership of nearly 0% of the company’s market capitalization.
15 institutional holders increased their position in Zosano Pharma Corporation [NASDAQ:ZSAN] by around 915,698 shares. Additionally, 11 investors decreased positions by around 15,523 shares, while 12 investors held positions by with 310,133 shares. The mentioned changes placed institutional holdings at 1,241,354 shares, according to the latest SEC report filing. ZSAN stock had 5 new institutional investments in for a total of 11,944 shares, while 9 institutional investors sold positions of 9,975 shares during the same period.