Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s stock price shot up 2.9% during trading on Tuesday . The company traded as high as $38.70 and last traded at $37.19. 379,654 shares changed hands during trading, a decline of 50% from the average session volume of 759,950 shares. The stock had previously closed at $36.14.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ZLAB. JPMorgan Chase & Co. boosted their price target on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank started coverage on shares of Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock. Finally, Bank of America reaffirmed a "neutral" rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd.
Get Our Latest Stock Report on Zai Lab
Zai Lab Price Performance
The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -11.47 and a beta of 1.07. The company has a 50-day simple moving average of $32.72 and a two-hundred day simple moving average of $28.77.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The firm 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%. Research analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.
Insider Activity
In related news, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the sale, the chief executive officer now directly owns 494,117 shares in the company, valued at $17,032,212.99. The trade was a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the company's 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 directly owns 14,328 shares of the company's stock, valued at $472,537.44. The trade was a 50.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,001 shares of company stock valued at $4,495,143. Insiders own 13.88% of the company's stock.
Hedge Funds Weigh In On Zai Lab
Hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in 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 buying an additional 4,830,646 shares in the last quarter. RTW Investments LP acquired a new stake in Zai Lab in the 4th quarter valued at about $65,714,000. Principal Financial Group Inc. bought a new position in shares of Zai Lab during the 4th quarter valued at about $46,172,000. Wellington Management Group LLP grew its stake in shares of Zai Lab by 18.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company's stock worth $203,660,000 after purchasing an additional 1,312,115 shares during the last quarter. Finally, RA Capital Management L.P. bought a new stake in shares of Zai Lab in the 4th quarter worth approximately $33,917,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.
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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