Shares of Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $34.64, but opened at $33.70. Zai Lab shares last traded at $32.56, with a volume of 276,674 shares traded.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. 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 research report on Monday. Cantor Fitzgerald raised Zai Lab to a "strong-buy" rating in a report on Tuesday.
Check Out Our Latest Analysis on ZLAB
Zai Lab Price Performance
The firm's 50 day moving average price is $28.10 and its two-hundred day moving average price is $26.25. The stock has a market cap of $3.87 billion, a PE ratio of -12.78 and a beta of 1.02.
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 analysts' consensus estimates of ($0.61) by ($0.19). The business had revenue of $109.07 million during the quarter, compared to analysts' expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. Analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current year.
Insider Activity at Zai Lab
In related news, CEO Ying Du sold 50,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the sale, the chief executive officer now owns 494,117 shares of the company's stock, valued at approximately $17,032,212.99. This represents a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rafael Amado sold 7,583 shares of the firm's stock in a transaction on Tuesday, December 31st. The shares were 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 of the company's stock, valued at approximately $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,127 shares of company stock worth $4,024,442. 13.88% of the stock is owned by company insiders.
Hedge Funds Weigh In On Zai Lab
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. bought a new stake in shares of Zai Lab during the 4th quarter worth $29,000. Public Employees Retirement System of Ohio lifted its stake in Zai Lab by 20.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company's stock worth $484,000 after purchasing an additional 3,179 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Zai Lab by 2.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company's stock worth $1,496,000 after purchasing an additional 1,200 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Zai Lab by 9.4% during the 4th quarter. Woodline Partners LP now owns 1,759,797 shares of the company's stock valued at $46,089,000 after buying an additional 151,835 shares in the last quarter. Finally, Vestal Point Capital LP bought a new stake in Zai Lab in the 4th quarter worth approximately $7,857,000. Hedge funds and other institutional investors own 41.65% of the company's stock.
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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