Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $29.00, but opened at $30.73. Zai Lab shares last traded at $32.72, with a volume of 275,757 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Cantor Fitzgerald upgraded Zai Lab to a "strong-buy" rating in a research note on Wednesday, February 5th.
Check Out Our Latest Analysis on Zai Lab
Zai Lab Stock Performance
The firm has a 50 day simple moving average of $26.90 and a two-hundred day simple moving average of $25.22. The firm has a market capitalization of $3.70 billion, a P/E ratio of -12.19 and a beta of 1.02.
Insider Buying and Selling at Zai Lab
In other Zai Lab news, insider Rafael Amado sold 7,583 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 33,834 shares in the company, valued at approximately $889,157.52. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.88% of the company's stock.
Hedge Funds Weigh In On Zai Lab
A number of hedge funds and other institutional investors have recently made changes to their positions in ZLAB. FMR LLC boosted its holdings in shares of Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock worth $143,403,000 after buying an additional 4,830,646 shares during the last quarter. RTW Investments LP bought a new stake in Zai Lab in the 4th quarter valued at about $65,714,000. Janus Henderson Group PLC raised its stake in Zai Lab by 34.2% in the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company's stock valued at $211,488,000 after acquiring an additional 2,232,507 shares during the period. Principal Financial Group Inc. bought a new stake in Zai Lab in the 4th quarter valued at about $46,172,000. Finally, Wellington Management Group LLP raised its stake in Zai Lab by 18.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company's stock valued at $203,660,000 after acquiring an additional 1,312,115 shares during the period. 41.65% of the stock is owned by hedge funds and other institutional investors.
Zai Lab Company Profile
(
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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