Zosano Pharma Corporation (ZSAN) started the trading day on a down note, making it one of the worst performing stocks in the health care sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 22. Shares of ZSAN have fallen 3.86% about 30 minutes into the session to $0.74 after closing the day prior at $0.77. It’s early, but the stock has traded as high as $0.74 and as low as $0.74 so far. Today’s quick decline has come with about 409 shares changing hands, compared to an average 30-day volume of 85,799 for Zosano Pharma Corporation. The price is currently below the 30-day volume weighted average price of $0.74 for ZSAN.
The share depreciation gives the company a market capitalization of $9.31 million based upon 12.02 million shares outstanding. It also means that ZSAN has a price-to-book ratio of 0.74:1.
In the past 52 weeks, shares of ZSAN have traded as low as $0.661 and as high as $8.93. Technical traders will take note that at $0.74, shares of ZSAN are trading below their 200-day MA at $1.86 and below their 50-day MA at $1.18. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is ZSAN?
Zosano Pharma Corp is a clinical stage specialty pharmaceutical company. It develops a proprietary transdermal microneedle patch system to deliver its proprietary formulations of existing drugs through the skin for the treatment of various indications. The company’s 67 employees are led by CEO Konstantinos Alataris from the corporate headquarters at 34790 Ardentech Court in Fremont, CA.
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