Zai Lab (NASDAQ:ZLAB) Sees Strong Trading Volume - Here's What Happened

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,701,288 shares changed hands during mid-day trading, an increase of 125% from the previous session's volume of 756,319 shares.The stock last traded at $33.38 and had previously closed at $33.78.

Wall Street Analysts Forecast Growth

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

Zai Lab Price Performance

The firm's 50-day moving average price is $27.35 and its 200 day moving average price is $25.63. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -12.60 and a beta of 1.02.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.15). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. On average, analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Rafael Amado sold 7,583 shares of the company's 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 sale, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. This represents a 18.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 13.88% of the company's stock.

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Institutional Trading of Zai Lab

Institutional investors have recently modified their holdings of the company. FMR LLC grew its stake in Zai Lab by 749.1% during the fourth quarter. FMR LLC now owns 5,475,505 shares of the company's stock worth $143,403,000 after buying an additional 4,830,646 shares during the period. RTW Investments LP acquired a new position in shares of Zai Lab during the fourth quarter worth $65,714,000. Janus Henderson Group PLC boosted its position in Zai Lab by 34.2% in the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company's stock valued at $211,488,000 after buying an additional 2,232,507 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Zai Lab during the fourth quarter valued at about $46,172,000. Finally, Wellington Management Group LLP increased its position in shares of Zai Lab by 18.4% during the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company's stock worth $203,660,000 after acquiring an additional 1,312,115 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

About Zai Lab

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.