Zai Lab (NASDAQ:ZLAB) Reaches New 12-Month High - Here's Why

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $34.07 and last traded at $33.97, with a volume of 99254 shares. The stock had previously closed at $28.94.

Analyst Upgrades and Downgrades

ZLAB has been the topic of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Zai Lab from $38.00 to $44.00 and gave the company an "overweight" rating in a research note on Monday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $57.71.

Zai Lab Trading Up 14.7 %

The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -9.51 and a beta of 1.08. The stock's 50 day moving average is $22.35 and its 200 day moving average is $19.36.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The business had revenue of $100.50 million for the quarter, compared to analyst estimates of $94.46 million. On average, equities research analysts predict that Zai Lab Limited will post -2.94 EPS for the current year.

Insiders Place Their Bets

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total transaction of $72,547.84. Following the transaction, the insider now owns 43,232 shares in the company, valued at $720,677.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.23% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale grew its position in shares of Zai Lab by 22.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 36,648 shares of the company's stock worth $899,000 after purchasing an additional 6,648 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Zai Lab by 14.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 142,189 shares of the company's stock worth $3,432,000 after acquiring an additional 18,093 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Zai Lab by 18.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,224 shares of the company's stock worth $2,031,000 after acquiring an additional 18,654 shares in the last quarter. DCF Advisers LLC acquired a new stake in shares of Zai Lab during the 2nd quarter worth approximately $528,000. Finally, XTX Topco Ltd boosted its position in shares of Zai Lab by 19.2% during the 2nd quarter. XTX Topco Ltd now owns 29,283 shares of the company's stock worth $507,000 after acquiring an additional 4,710 shares in the last quarter. Institutional investors and hedge funds own 41.65% of the company's stock.

Zai Lab Company Profile

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.