Alps Advisors Inc. boosted its position in Zafgen Inc. (NASDAQ:ZFGN) by 25.1% during the second quarter, Holdings Channel reports. The firm owned 38,312 shares of the biopharmaceutical company’s stock after buying an additional 7,683 shares during the period. Alps Advisors Inc.’s holdings in Zafgen were worth $229,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Bellevue Group AG purchased a new stake in Zafgen during the first quarter worth $134,000. Geode Capital Management LLC increased its stake in Zafgen by 10.3% in the first quarter. Geode Capital Management LLC now owns 128,152 shares of the biopharmaceutical company’s stock worth $856,000 after buying an additional 11,965 shares during the period. VHCP Management II LLC purchased a new stake in Zafgen during the first quarter worth $945,000. Granahan Investment Management Inc. MA increased its stake in Zafgen by 25.7% in the first quarter. Granahan Investment Management Inc. MA now owns 363,029 shares of the biopharmaceutical company’s stock worth $2,425,000 after buying an additional 74,150 shares during the period. Finally, Deerfield Management Co. increased its stake in Zafgen by 262.2% in the first quarter. Deerfield Management Co. now owns 3,055,603 shares of the biopharmaceutical company’s stock worth $20,411,000 after buying an additional 2,211,938 shares during the period. 62.83% of the stock is currently owned by institutional investors and hedge funds.
Zafgen Inc. (NASDAQ:ZFGN) traded down 1.41% on Friday, hitting $3.50. 550,621 shares of the stock were exchanged. The company’s market capitalization is $95.65 million. Zafgen Inc. has a 1-year low of $2.90 and a 1-year high of $18.25. The company has a 50-day moving average price of $3.25 and a 200 day moving average price of $5.09.
ZFGN has been the topic of a number of recent research reports. Cowen and Company reissued a “buy” rating and set a $60.00 target price on shares of Zafgen in a research report on Thursday, August 25th. Zacks Investment Research raised Zafgen from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a report on Tuesday, July 26th. FBR & Co reaffirmed a “hold” rating on shares of Zafgen in a report on Tuesday, September 20th. Canaccord Genuity set a $4.00 price objective on Zafgen and gave the company a “hold” rating in a report on Thursday, July 21st. Finally, Leerink Swann reaffirmed a “market perform” rating and set a $6.00 price objective on shares of Zafgen in a report on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.22.
In other news, CFO Patricia L. Allen purchased 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average cost of $3.12 per share, for a total transaction of $49,920.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas E. Hughes purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were purchased at an average price of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the acquisition, the insider now owns 63,936 shares of the company’s stock, valued at approximately $191,808. The disclosure for this purchase can be found here. Corporate insiders own 20.30% of the company’s stock.
Zafgen Company Profile
Zafgen, Inc 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 Company’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.
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