Zafgen Inc (ZFGN) Sees Significant Growth in Short Interest

Zafgen Inc (NASDAQ:ZFGN) saw a large growth in short interest during the month of September. As of September 14th, there was short interest totalling 1,166,230 shares, a growth of 37.9% from the August 31st total of 845,684 shares. Based on an average daily trading volume, of 246,569 shares, the short-interest ratio is presently 4.7 days. Currently, 3.5% of the company’s stock are sold short.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Zafgen by 283.6% during the second quarter. BlackRock Inc. now owns 1,437,932 shares of the biopharmaceutical company’s stock valued at $14,711,000 after acquiring an additional 1,063,080 shares during the period. Point72 Asset Management L.P. bought a new stake in Zafgen during the second quarter valued at about $5,013,000. Citadel Advisors LLC bought a new stake in Zafgen during the first quarter valued at about $2,347,000. 683 Capital Management LLC raised its holdings in Zafgen by 23.1% during the second quarter. 683 Capital Management LLC now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $16,368,000 after acquiring an additional 300,000 shares during the period. Finally, Acuta Capital Partners LLC bought a new stake in Zafgen during the second quarter valued at about $2,558,000. 72.58% of the stock is currently owned by institutional investors.

Shares of ZFGN stock traded down $0.24 on Friday, reaching $10.03. The stock had a trading volume of 117,681 shares, compared to its average volume of 277,028. Zafgen has a 1 year low of $3.37 and a 1 year high of $12.35. The company has a market cap of $430.25 million, a P/E ratio of -5.28 and a beta of -0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 8.42 and a quick ratio of 8.42.

Zafgen (NASDAQ:ZFGN) last announced its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.57) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.02. As a group, analysts expect that Zafgen will post -2.05 earnings per share for the current year.

Several analysts recently weighed in on the company. BidaskClub upgraded Zafgen from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 27th. Wedbush began coverage on Zafgen in a research note on Thursday, August 2nd. They set an “outperform” rating and a $14.00 target price on the stock. Zacks Investment Research upgraded Zafgen from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. Piper Jaffray Companies began coverage on Zafgen in a research note on Tuesday, July 3rd. They set an “overweight” rating and a $18.00 target price on the stock. Finally, ValuEngine upgraded Zafgen from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $15.25.

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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