Zai Lab (NASDAQ:ZLAB) Shares Gap Down - What's Next?

Shares of Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $27.22, but opened at $26.33. Zai Lab shares last traded at $26.85, with a volume of 42,815 shares.

Wall Street Analysts Forecast Growth

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

Zai Lab Stock Performance

The company has a 50-day moving average of $28.45 and a 200-day moving average of $22.78. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of -9.61 and a beta of 0.99.

Institutional Trading of Zai Lab

Several institutional investors and hedge funds have recently made changes to their positions in ZLAB. Y Intercept Hong Kong Ltd acquired a new position in Zai Lab in the 3rd quarter valued at about $225,000. Daiwa Securities Group Inc. grew its holdings in shares of Zai Lab by 4,851.8% during the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company's stock worth $231,000 after buying an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Zai Lab by 58.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company's stock valued at $231,000 after buying an additional 3,514 shares during the last quarter. RBF Capital LLC purchased a new position in shares of Zai Lab during the third quarter valued at approximately $241,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Zai Lab during the second quarter worth approximately $270,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

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.