Zafgen, Inc. (NASDAQ:ZFGN) has been the object of insider buying activity recently. Dennis D. Kim, Chief Medical Officer purchased $33,900 worth of shares at an average price of $3.39 on Tue the 11th. Kim now owns $72,692 of stock per an SEC filing yesterday. Chief Medical Officer Dennis D. Kim disclosed the purchase of 10,000 shares of ZFGN stock. The shares sold for $4.40. The Chief Medical Officer now owns $50,349 of the stock per the Form 4 SEC filing.
Frances K. Heller, Director reported the purchase of 10,000 shares. The shares were bought on December 19th for an average price of $3.23. Heller now owns $96,900 of the stock according to the SEC filing.
Zafgen, Inc., launched on November 22, 2005, is a biopharmaceutical company. The Company is focused on improving the health and well-being of patients affected by obesity and complex metabolic disorders. The Business’s lead product candidate, Beloranib, is a twice-weekly subcutaneous injection being developed for the treatment of multiple indications, including severe obesity in rare diseases, such as Prader-Willi syndrome (PWS) and hypothalamic injury-associated obesity (HIAO), including craniopharyngioma-associated obesity. Beloranib is in Phase III stage of development for PWS. It is also developing ZGN-839, a liver-targeted methionine aminopeptidase 2 (MetAP2) inhibitor, for the treatment of nonalcoholic steatohepatitis (NASH) and abdominal obesity, as well as other second-generation MetAP2 inhibitors for the treatment of severe obesity..
These funds have also shifted positions in (ZFGN). As of the end of the quarter Tower Research Capital LLC (trc) had acquired 968 shares growing its holdings by 31.7%. The value of the total investment in Zafgen, Inc. went from $10,000 to $19,000 increasing 90.0% since the last quarter. Goldman Sachs Group Inc downsized its investment by selling 20,129 shares a decrease of 64.8% as of 03/31/2017. Goldman Sachs Group Inc controls 10,951 shares worth $51,000. The value of the position overall is down by 48.5%.
As of quarter end Sabby Management, LLC had sold a total of 166,682 shares trimming its stake by 53.8%. The value of the company’s investment in Zafgen, Inc. decreased from $986,000 to $668,000 a change of $318,000 for the reporting period. As of quarter end Artal Group S.a. had acquired a total of 500,000 shares growing its position 100.0%. The value of the investment in ZFGN increased from $1,590,000 to $4,660,000 a change of 193.1% quarter over quarter.
On July 20, 2016 the stock rating was rated “Market Perform” in a report from FBR Capital a cut from the previous “Outperform” rating. On July 20 the company was set at “Market Perform” according to a Cowen & Company report which was a cut from the previous “Outperform” rating.
On March 10 the stock rating was downgraded to “Hold” from “Buy” in a report issued by Canaccord Genuity. March 10 investment analysts at Leerink Swann held the stock rating at “Market Perform” and lowered the price target to $6.00 from $7.00.
On January 21 the company was upgraded from “Market Perform” to “Outperform” in a report from FBR Capital. On January 21 the company was changed to a “Outperform” by RBC Capital which is up from the previous “Sector Perform” rating.
The company is so far trading unchanged since yesterday’s close of $3.34. Shares are trading at $3.34 which is slightly below $3.80, the 50 day moving average and a tad under the 200 day moving average of $4.11. The 50 day moving average moved down $-0.46 and the 200 day average was down $-0.77.
In the last earnings report the EPS was $-1.95 and is expected to be $-2.34 for the current year with 27,372,000 shares now outstanding. Analysts expect next quarter’s EPS will be $-0.61 with next year’s EPS anticipated to be $-1.93.
Investors are more bullish recently as indicated by the decrease in short interest. The stock realized a fall in short interest of -0.11% as of May 31, 2017 from the last reporting period. Short shares decreased 1,193 over that timeframe. The short-interest ratio increased to 7.7 and the percentage of shorted shares is 0.04% as of May 31.