Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Zafgen Inc (NASDAQ:ZFGN) by 52.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,668 shares of the biopharmaceutical company’s stock after selling 131,423 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.32% of Zafgen worth $141,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in ZFGN. SG Americas Securities LLC acquired a new position in Zafgen in the first quarter valued at approximately $43,000. Bank of America Corp DE lifted its stake in Zafgen by 155.5% in the fourth quarter. Bank of America Corp DE now owns 19,909 shares of the biopharmaceutical company’s stock valued at $98,000 after buying an additional 12,116 shares during the period. Gabelli Funds LLC acquired a new position in Zafgen in the second quarter valued at approximately $26,000. Alambic Investment Management L.P. acquired a new position in Zafgen in the first quarter valued at approximately $95,000. Finally, Wedbush Securities Inc. lifted its stake in Zafgen by 118.6% in the second quarter. Wedbush Securities Inc. now owns 76,500 shares of the biopharmaceutical company’s stock valued at $91,000 after buying an additional 41,500 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.
ZFGN has been the topic of a number of research reports. Piper Jaffray Companies lowered their target price on Zafgen from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Wedbush lowered Zafgen from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $6.00 to $0.78 in a research report on Friday, September 6th. JMP Securities lowered Zafgen from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 5th. Roth Capital lowered Zafgen from a “buy” rating to a “neutral” rating in a research report on Friday, September 6th. Finally, ValuEngine raised Zafgen from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.05.
Shares of ZFGN stock traded up $0.02 on Friday, hitting $0.72. 7,785 shares of the stock were exchanged, compared to its average volume of 691,046. The company has a current ratio of 6.98, a quick ratio of 6.98 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $26.54 million, a PE ratio of -0.38 and a beta of -0.52. Zafgen Inc has a one year low of $0.63 and a one year high of $12.35. The firm’s 50 day moving average is $0.86 and its two-hundred day moving average is $2.04.
Zafgen (NASDAQ:ZFGN) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.06. On average, sell-side analysts expect that Zafgen Inc will post -1.15 earnings per share for the current year.
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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