Zai Lab (NASDAQ:ZLAB) Stock Price Down 3.2% - What's Next?

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s share price dropped 3.2% during mid-day trading on Monday . The company traded as low as $24.41 and last traded at $24.52. Approximately 32,402 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 629,700 shares. The stock had previously closed at $25.33.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on Zai Lab from $43.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, July 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $56.21.

Zai Lab Trading Down 2.4 %

The firm has a market capitalization of $2.46 billion, a PE ratio of -7.08 and a beta of 1.08. The stock's 50 day moving average price is $20.40 and its two-hundred day moving average price is $18.67.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.82) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.16). Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. The company had revenue of $100.50 million for the quarter, compared to analyst estimates of $94.46 million. Analysts expect that Zai Lab Limited will post -2.95 earnings per share for the current year.

Insider Activity at Zai Lab

In related news, insider Joshua L. Smiley sold 4,352 shares of the firm's 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 sale, the insider now owns 43,232 shares in the company, valued at approximately $720,677.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ZLAB. BNP Paribas Financial Markets increased its position in Zai Lab by 51.2% during the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company's stock worth $43,000 after purchasing an additional 904 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Zai Lab in the 1st quarter worth $64,000. China Universal Asset Management Co. Ltd. boosted its holdings in Zai Lab by 64.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,530 shares of the company's stock valued at $153,000 after acquiring an additional 3,728 shares during the last quarter. Swedbank AB purchased a new stake in Zai Lab during the first quarter valued at about $244,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Zai Lab during the second quarter worth about $270,000. Institutional investors and hedge funds own 41.65% of the company's stock.

About Zai Lab

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.