Shares of Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $29.71, but opened at $31.83. Zai Lab shares last traded at $31.81, with a volume of 131,830 shares trading hands.
Analyst Ratings Changes
A number of research analysts recently commented on ZLAB shares. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Scotiabank began coverage on Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price for the company. Bank of America restated a "neutral" rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised 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.
Check Out Our Latest Stock Report on Zai Lab
Zai Lab Stock Up 8.8 %
The company has a 50 day simple moving average of $33.01 and a 200-day simple moving average of $29.32. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -11.68 and a beta of 1.09.
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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). The company had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, sell-side analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.
Insider Buying and Selling at Zai Lab
In related news, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.44, for a total value of $1,622,000.00. Following the completion of the transaction, the chief executive officer now directly owns 494,117 shares in the company, valued at approximately $16,029,155.48. The trade was a 9.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock in a transaction on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the completion of the transaction, the insider now owns 14,328 shares of the company's stock, valued at approximately $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,744 shares of company stock valued at $4,685,294. Corporate insiders own 13.88% of the company's stock.
Institutional Investors Weigh In On Zai Lab
Large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Zai Lab by 26.4% in the 3rd quarter. Geode Capital Management LLC now owns 43,626 shares of the company's stock worth $1,053,000 after acquiring an additional 9,107 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Zai Lab by 28.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company's stock worth $4,801,000 after acquiring an additional 41,128 shares in the last quarter. SG Americas Securities LLC bought a new stake in Zai Lab during the fourth quarter worth about $511,000. China Universal Asset Management Co. Ltd. grew its holdings in 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 worth $290,000 after purchasing an additional 1,502 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Zai Lab during the fourth 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.
Further Reading
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