Zafgen (ZFGN) : On Wednesday, The money flowed into the Zafgen (ZFGN) stock with an uptick to downtick ratio was recorded at 1.32. Transactions worth $7.21 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $5.47 million. The total money flow into the stock was $1.74 million. The block trades reveal a bullish bias with an up-down ratio of 0.8. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $0.87 million of block transactions on upticks. The value of block trades on downticks was $1.1 million, indicating lower selling interest. The total money flow in block trades was $-0.22 million. In terms of price action, Zafgen (ZFGN) traded down $3.51 during the session at $3.24. Compared to the previous days closing, the stock was down only by -52%. For the week, the stock is -51.5%, over previous weeks closing.
Zafgen (NASDAQ:ZFGN): The stock opened at $3.50 on Wednesday but the bulls could not build on the opening and the stock topped out at $3.66 for the day. The stock traded down to $3.18 during the day, due to lack of any buying support eventually closed down at $3.24 with a loss of -52.00% for the day. The stock had closed at $6.75 on the previous day. The total traded volume was 8,238,096 shares.
The stock has recorded a 20-day Moving Average of 48.78% and the 50-Day Moving Average is 50.15%. In a related news, The Securities and Exchange Commission has divulged that Kim Dennis D, officer (Chief Medical Officer) of Zafgen, Inc., had unloaded 39,407 shares at an average price of $40 in a transaction dated on September 15, 2015. The total value of the transaction was worth $1,576,280.
Zafgen, Inc. is a biopharmaceutical company. The Company is engaged in improving the health and well-being of patients affected by obesity and complex metabolic disorders. The Companys lead product candidate, Beloranib is a twice-weekly subcutaneous (SC) injection being developed for the treatment of multiple indications, including severe obesity in two rare diseases, Prader-Willi syndrome (PWS) and hypothalamic injury-associated obesity (HIAO), including craniopharyngioma-associated obesity, and severe obesity. Beloranib is in Phase III stage of development for obesity and hyperphagia in patients with PWS; completed Phase II clinical trial for HIAO, and is in Phase IIb stage of development for severe obesity in the general population. The Companys other product candidate, ZGN-839, is in pre-clinical development stage. The Company is also evaluating the additional MetAP2 inhibitors beyond Beloranib as potential development candidates for the treatment of severe obesity.