Zai Lab (NASDAQ:ZLAB) Shares Gap Down - Here's Why

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $29.95, but opened at $27.59. Zai Lab shares last traded at $27.79, with a volume of 112,452 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of Zai Lab from $38.00 to $44.00 and gave the company an "overweight" rating in a report on Monday, October 21st.

Zai Lab Stock Performance

The business's fifty day simple moving average is $25.78 and its 200-day simple moving average is $20.94. The company has a market capitalization of $2.66 billion, a P/E ratio of -9.63 and a beta of 1.04.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the completion of the sale, the insider now directly owns 43,232 shares of the company's stock, valued at $720,677.44. The trade was a 9.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.88% of the company's stock.

Institutional Investors Weigh In On Zai Lab

Several large investors have recently modified their holdings of ZLAB. Capital World Investors raised its holdings in shares of Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company's stock valued at $91,061,000 after purchasing an additional 465,337 shares in the last quarter. M&G Plc bought a new position in shares of Zai Lab during the 1st quarter worth approximately $7,266,000. Janus Henderson Group PLC raised its stake in shares of Zai Lab by 9.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company's stock worth $70,924,000 after acquiring an additional 387,729 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Zai Lab by 26.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company's stock worth $14,584,000 after acquiring an additional 125,532 shares in the last quarter. Finally, Bamco Inc. NY raised its stake in shares of Zai Lab by 7.3% during the 1st quarter. Bamco Inc. NY now owns 1,599,865 shares of the company's stock worth $25,630,000 after acquiring an additional 108,991 shares in the last quarter. 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.