Zogenix, Inc. (NASDAQ:ZGNX) Traded Significantly Above Its 50 Day Average

The stock of Zogenix Incorporated (NASDAQ:ZGNX) registered a decrease of 4.36% in short interest. These are called exhaustion moves because typically when so many shares change hands there is no one left to keep pushing the price in the trending direction and it reverses (often quickly).

Over the past 50 days, Zogenix, Inc. stock's 0.93% off of the high and 61.69% removed from the low. SG Americas Securities LLC acquired a new position in shares of Zogenix in the 2nd quarter valued at about $100,000. Dimensional Fund Advisors LP boosted its position in shares of Zogenix by 89.4% during the first quarter. Trexquant Investment Lp owns 18,739 shares with a value of $272,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Zogenix by 1,794.4% during the second quarter.

After a recent scan, we have noticed that Zogenix, Inc. Institutional investors own 87.15% of the company's stock.

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Several research firms have commented on ZGNX. BidaskClub cut Zogenix from a "buy" rating to a "hold" rating in a research note on Friday, July 28th.

Among 5 analysts covering Zogenix (NASDAQ:ZGNX), 5 have Buy rating, 0 Sell and 0 Hold. They set a "buy" rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. now owns 286,299 shares of the company's stock worth $4,152,000 after buying an additional 271,186 shares during the period. Current trade price levels places SNAP's stock about -47.01% away from the 52-week high and closed 38.30% away from the 52-week low.

In related news, major shareholder Life Sciences Maste Perceptive purchased 175,653 shares of Zogenix stock in a transaction dated Friday, June 30th. Shares are clocking price at $15.60 with change of 2.97%. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. (NASDAQ:ZGNX)'s stock is experiencing unusual volume during today's trading. The volume of 1.61 Million shares climbed down over an trading activity of 334.45 Million shares. A significant increase in trading volume means that more than double the average amount of stocks are moving. The company have shares float of 22.54 million.

Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings results on Tuesday, August 8th.

In the last earnings report the EPS was $-3.42 and is estimated to be $-3.74 for the current year with 24,841,000 shares now outstanding. Last quarter, the company saw 7.13 million in total revenues. Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%.

Zogenix, Inc., launched on May 11, 2006, is a pharmaceutical company engaged in developing and commercializing central nervous system (CNS) therapies that address specific clinical needs for people living with orphan and other CNS disorders. Over the past month the firm's stock is 52.58%, 11.30% for the last quarter, 50.46% for the past six-months and 75.68% for the previous year.

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