Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $33.91, but opened at $35.04. Zai Lab shares last traded at $35.99, with a volume of 146,411 shares trading hands.
Wall Street Analyst Weigh In
ZLAB has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Bank of America reaffirmed a "neutral" rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Scotiabank began coverage on shares of Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research report on Thursday.
Check Out Our Latest Stock Report on ZLAB
Zai Lab Trading Up 3.1 %
The company has a fifty day moving average price of $31.76 and a two-hundred day moving average price of $28.31. The firm has a market cap of $4.09 billion, a P/E ratio of -13.46 and a beta of 1.08.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The firm had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. As a group, sell-side analysts expect that Zai Lab Limited will post -2.58 EPS for the current year.
Insiders Place Their Bets
In related news, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction that occurred 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 of the company's stock, valued at approximately $889,157.52. This trade represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the sale, the insider now owns 14,328 shares of the company's stock, valued at $472,537.44. This trade represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,127 shares of company stock valued at $4,139,672 in the last three months. 13.88% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Zai Lab
Several hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in shares of Zai Lab during the fourth quarter worth $29,000. Pictet Asset Management Holding SA bought a new stake in shares of Zai Lab during the fourth quarter worth about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Zai Lab by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company's stock valued at $1,496,000 after buying an additional 1,200 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Zai Lab by 15.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock valued at $290,000 after buying an additional 1,502 shares during the period. Finally, Invesco Ltd. raised its holdings in Zai Lab by 4.2% in the 4th quarter. Invesco Ltd. now owns 44,340 shares of the company's stock valued at $1,161,000 after buying an additional 1,790 shares during the last quarter. 41.65% of the stock is owned by institutional investors.
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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