Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $25.41, but opened at $27.28. Zai Lab shares last traded at $26.33, with a volume of 378,720 shares.
Analysts Set New Price Targets
ZLAB has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Zai Lab from $38.00 to $44.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Friday, October 25th.
View Our Latest Analysis on Zai Lab
Zai Lab Trading Up 1.6 %
The business has a 50 day moving average of $27.73 and a two-hundred day moving average of $23.21. The firm has a market cap of $2.82 billion, a P/E ratio of -9.32 and a beta of 1.00.
Insider Activity
In related news, insider Rafael Amado sold 7,583 shares of the company's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares in the company, valued at approximately $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.88% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in ZLAB. Y Intercept Hong Kong Ltd bought a new position in Zai Lab during the 3rd quarter worth $225,000. Daiwa Securities Group Inc. raised its stake in Zai Lab by 4,851.8% in the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company's stock valued at $231,000 after purchasing an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company's stock worth $231,000 after purchasing an additional 3,514 shares during the period. RBF Capital LLC acquired a new stake in Zai Lab during the third quarter worth about $241,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Zai Lab in the 2nd quarter valued at approximately $270,000. Institutional investors and hedge funds 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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