Zai Lab's (ZLAB) Neutral Rating Reaffirmed at Bank of America

Bank of America restated their neutral rating on shares of Zai Lab (NASDAQ:ZLAB - Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $36.10 price target on the stock, up from their previous price target of $29.00.

Separately, Cantor Fitzgerald upgraded Zai Lab to a "strong-buy" rating in a report on Wednesday, February 5th.

Zai Lab Stock Down 1.4 %

Shares of Zai Lab stock traded down $0.52 on Monday, hitting $35.39. 855,930 shares of the company were exchanged, compared to its average volume of 745,157. The company has a 50-day moving average price of $28.10 and a 200 day moving average price of $26.25. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -12.78 and a beta of 1.02. Zai Lab has a 1-year low of $13.48 and a 1-year high of $36.60.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.19). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The firm had revenue of $109.07 million for the quarter, compared to analyst estimates of $110.15 million. Research analysts forecast that Zai Lab will post -2.58 EPS for the current year.

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Insider Transactions at Zai Lab

In related news, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the completion of the transaction, the chief executive officer now directly owns 494,117 shares in the company, valued at $17,032,212.99. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rafael Amado sold 7,583 shares of the business's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the sale, the insider now owns 33,834 shares in the company, valued at $889,157.52. This trade represents a 18.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,127 shares of company stock worth $4,024,442. 13.88% of the stock is currently owned by insiders.

Institutional Trading of Zai Lab

A number of large investors have recently modified their holdings of ZLAB. GF Fund Management CO. LTD. purchased a new position in Zai Lab in the fourth quarter valued at $29,000. Pictet Asset Management Holding SA purchased a new position in shares of Zai Lab in the 4th quarter valued at about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Zai Lab by 2.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company's stock valued at $1,496,000 after buying an additional 1,200 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock worth $290,000 after buying an additional 1,502 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Zai Lab by 4.2% during the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after buying an additional 1,790 shares during the period. Hedge funds and other institutional investors 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.