Zai Lab (NASDAQ:ZLAB) Shares Down 3.7% - What's Next?

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) dropped 3.7% during mid-day trading on Friday . The company traded as low as $31.52 and last traded at $31.95. Approximately 83,010 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 656,801 shares. The stock had previously closed at $33.18.

Analyst Ratings Changes

Several research analysts have recently commented on ZLAB shares. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of Zai Lab from $38.00 to $44.00 and gave the stock an "overweight" rating in a research report on Monday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $57.71.

Zai Lab Price Performance

The stock's 50 day moving average price is $22.35 and its two-hundred day moving average price is $19.36. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -9.30 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $100.50 million during the quarter, compared to the consensus estimate of $94.46 million. As a group, equities research analysts anticipate that Zai Lab Limited will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the sale, the insider now owns 43,232 shares of the company's stock, valued at $720,677.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.23% of the company's stock.

Institutional Trading of Zai Lab

Several institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. increased its position in shares of Zai Lab by 35.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 63,169 shares of the company's stock worth $1,012,000 after purchasing an additional 16,659 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company's stock worth $43,000 after acquiring an additional 904 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Zai Lab by 313.5% in the 1st quarter. GSA Capital Partners LLP now owns 45,573 shares of the company's stock valued at $730,000 after buying an additional 34,552 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Zai Lab during the first quarter worth about $64,000. Finally, Russell Investments Group Ltd. raised its holdings in Zai Lab by 51.1% during the 1st quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company's stock worth $4,706,000 after buying an additional 99,355 shares during the period. 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.