Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $39.77 and last traded at $38.29, with a volume of 417212 shares traded. The stock had previously closed at $36.18.
Analyst Ratings Changes
Several analysts recently issued reports on ZLAB shares. Bank of America reaffirmed a "neutral" rating and set a $36.10 price objective (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Scotiabank started coverage on Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a report on Thursday.
Get Our Latest Analysis on ZLAB
Zai Lab Stock Down 3.1 %
The stock's 50-day moving average price is $31.76 and its 200 day moving average price is $28.35. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -13.05 and a beta of 1.08.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The firm had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. On average, research analysts predict that Zai Lab Limited will post -2.58 EPS for the current year.
Insider Buying and Selling at Zai Lab
In other Zai Lab news, insider Rafael Amado sold 7,583 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the completion of the transaction, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the sale, the insider now directly owns 14,328 shares in the company, valued at approximately $472,537.44. The trade was a 50.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,127 shares of company stock valued at $4,139,672 in the last 90 days. 13.88% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Zai Lab
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZLAB. FMR LLC raised its stake in shares of Zai Lab by 749.1% in the fourth quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after acquiring an additional 4,830,646 shares during the last quarter. RTW Investments LP acquired a new position in Zai Lab in the fourth quarter worth $65,714,000. Janus Henderson Group PLC boosted its stake in Zai Lab by 34.2% in the third quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company's stock worth $211,488,000 after purchasing an additional 2,232,507 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Zai Lab during the fourth quarter worth $46,172,000. Finally, Wellington Management Group LLP increased its stake in shares of Zai Lab by 18.4% in the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company's stock valued at $203,660,000 after buying an additional 1,312,115 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.
Zai Lab Company Profile
(
Get Free Report)
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.
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