Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $24.32, but opened at $27.80. Zai Lab shares last traded at $28.16, with a volume of 740,995 shares changing hands.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on ZLAB shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Scotiabank assumed coverage on Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price on the stock. Bank of America reissued a "neutral" rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their price target on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th.
Check Out Our Latest Stock Analysis on ZLAB
Zai Lab Price Performance
The stock has a market capitalization of $3.17 billion, a PE ratio of -10.45 and a beta of 1.09. The company has a 50 day moving average price of $32.88 and a 200-day moving average price of $29.18.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results 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). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The business had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. As a group, equities analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current year.
Insider Transactions at Zai Lab
In other news, insider Frazor Titus Edmondson III sold 1,874 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $33.11, for a total value of $62,048.14. Following the transaction, the insider now owns 30,375 shares in the company, valued at $1,005,716.25. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rafael Amado sold 3,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $38.41, for a total transaction of $115,230.00. Following the sale, the insider now directly owns 30,834 shares of the company's stock, valued at approximately $1,184,333.94. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,744 shares of company stock valued at $4,685,294 in the last quarter. 13.88% of the stock is owned by insiders.
Hedge Funds Weigh In On Zai Lab
A number of hedge funds and other institutional investors have recently modified their holdings of ZLAB. FMR LLC grew its position in shares of Zai Lab by 749.1% during the fourth quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after purchasing an additional 4,830,646 shares in the last quarter. RTW Investments LP bought a new stake in Zai Lab in the fourth quarter worth $65,714,000. Price T Rowe Associates Inc. MD raised its position in shares of Zai Lab by 30.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company's stock valued at $61,653,000 after buying an additional 548,378 shares in the last quarter. Clearbridge Investments LLC grew its position in Zai Lab by 113.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock worth $48,788,000 after acquiring an additional 989,664 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of Zai Lab during the 4th quarter valued at approximately $46,172,000. 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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