Zafgen Inc (NASDAQ:ZFGN) Sees Large Increase in Short Interest

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Zafgen Inc (NASDAQ:ZFGN) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 803,900 shares, an increase of 37.8% from the September 30th total of 583,200 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 472,800 shares, the days-to-cover ratio is currently 1.7 days.

A number of large investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of Zafgen by 73.4% during the 2nd quarter. SG Americas Securities LLC now owns 27,032 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 11,447 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Zafgen by 118.6% during the 2nd quarter. Wedbush Securities Inc. now owns 76,500 shares of the biopharmaceutical company’s stock valued at $91,000 after purchasing an additional 41,500 shares during the last quarter. Gabelli Funds LLC bought a new position in shares of Zafgen during the 2nd quarter valued at about $26,000. JPMorgan Chase & Co. increased its position in shares of Zafgen by 16.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 104,925 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 14,917 shares during the last quarter. Finally, AWM Investment Company Inc. boosted its holdings in Zafgen by 32.4% during the 2nd quarter. AWM Investment Company Inc. now owns 1,857,171 shares of the biopharmaceutical company’s stock valued at $2,210,000 after acquiring an additional 454,874 shares during the period. Institutional investors own 79.88% of the company’s stock.

Several analysts have commented on ZFGN shares. Roth Capital lowered shares of Zafgen from a “buy” rating to a “neutral” rating in a research report on Friday, September 6th. Zacks Investment Research restated a “hold” rating on shares of Zafgen in a report on Saturday, October 19th. ValuEngine upgraded shares of Zafgen from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Wedbush downgraded shares of Zafgen from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $6.00 to $0.78 in a report on Friday, September 6th. Finally, JMP Securities downgraded shares of Zafgen from an “outperform” rating to a “market perform” rating in a report on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Zafgen has a consensus rating of “Hold” and a consensus target price of $6.05.

Shares of ZFGN traded down $0.01 during mid-day trading on Wednesday, hitting $0.75. 183,500 shares of the company traded hands, compared to its average volume of 358,784. Zafgen has a 1-year low of $0.63 and a 1-year high of $11.13. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $27.88 million, a PE ratio of -0.39 and a beta of -0.57. The business has a 50 day moving average of $0.73 and a 200 day moving average of $1.25.

Zafgen (NASDAQ:ZFGN) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. As a group, research analysts expect that Zafgen will post -1.15 EPS for the current fiscal year.

Zafgen Company Profile

Zafgen, Inc, a clinical-stage biopharmaceutical company, develops therapies for patients suffering from metabolic diseases comprising type 2 diabetes, Prader-Willi syndrome (PWS), and other metabolically related disorders. The company's lead product candidate is ZGN-1061, a fumagillin-class methionine aminopeptidase 2 (MetAP2) inhibitor administered by subcutaneous injection, which is in Phase 2 clinical trial and profiled for its utility in the treatment of type 2 diabetes and other related metabolic disorders.

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