Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $37.99 and last traded at $37.05, with a volume of 300615 shares changing hands. The stock had previously closed at $35.39.
Wall Street Analyst Weigh In
Several equities analysts have commented on ZLAB shares. Cantor Fitzgerald upgraded Zai Lab to a "strong-buy" rating in a research report on Tuesday, March 4th. Bank of America reissued a "neutral" rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Finally, Scotiabank assumed coverage on shares of Zai Lab in a research note on Friday. They set a "sector outperform" rating and a $55.00 price target for the company.
Check Out Our Latest Stock Analysis on Zai Lab
Zai Lab Stock Up 1.9 %
The firm has a market cap of $3.87 billion, a P/E ratio of -12.76 and a beta of 1.08. The business's 50 day moving average is $28.80 and its two-hundred day moving average is $26.82.
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 for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The company had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. Equities research analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.
Insider Transactions at Zai Lab
In related news, insider Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock in a transaction on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the completion of the sale, the insider now owns 14,328 shares of the company's stock, valued at approximately $472,537.44. This trade represents a 50.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ying Du sold 50,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 494,117 shares in the company, valued at approximately $17,032,212.99. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,127 shares of company stock valued at $4,024,442 in the last 90 days. 13.88% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Zai Lab
A number of hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in Zai Lab during the fourth quarter worth about $29,000. Pictet Asset Management Holding SA bought a new position in shares of Zai Lab during the 4th quarter worth approximately $31,000. Barclays PLC boosted its stake in shares of Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after buying an additional 2,856 shares during the last quarter. US Bancorp DE grew its holdings in shares of Zai Lab by 1,671.9% in the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after acquiring an additional 5,534 shares in the last quarter. Finally, Jasper Ridge Partners L.P. purchased a new stake in shares of Zai Lab during the fourth quarter valued at approximately $210,000. 41.65% of the stock is owned by hedge funds and other institutional investors.
About Zai Lab
(
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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