Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 759,618 shares changed hands during mid-day trading, an increase of 12% from the previous session's volume of 678,831 shares.The stock last traded at $28.38 and had previously closed at $26.67.
Analysts Set New Price Targets
A number of research firms have recently commented on ZLAB. JPMorgan Chase & Co. raised their target price on Zai Lab from $38.00 to $44.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research report on Friday, October 25th.
Get Our Latest Stock Analysis on Zai Lab
Zai Lab Stock Performance
The company has a 50 day moving average of $26.06 and a 200 day moving average of $21.06. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -9.77 and a beta of 1.04.
Institutional Trading of Zai Lab
Hedge funds have recently bought and sold shares of the business. Capital World Investors lifted its position in Zai Lab by 8.9% during the first quarter. Capital World Investors now owns 5,684,180 shares of the company's stock worth $91,061,000 after buying an additional 465,337 shares in the last quarter. M&G Plc purchased a new stake in shares of Zai Lab in the first quarter valued at about $7,266,000. Russell Investments Group Ltd. increased its position in Zai Lab by 51.1% during the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company's stock worth $4,706,000 after purchasing an additional 99,355 shares during the last quarter. Swedbank AB purchased a new position in Zai Lab during the first quarter worth about $244,000. Finally, DCF Advisers LLC acquired a new position in Zai Lab in the 2nd quarter valued at about $528,000. Institutional investors and hedge funds own 41.65% of the company's stock.
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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