Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s share price was down 3.5% on Wednesday . The company traded as low as $35.58 and last traded at $35.99. Approximately 110,429 shares were traded during trading, a decline of 86% from the average daily volume of 766,441 shares. The stock had previously closed at $37.29.
Wall Street Analyst Weigh In
Several research analysts have commented on ZLAB shares. JPMorgan Chase & Co. raised their price objective on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Bank of America reaffirmed a "neutral" rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Finally, Scotiabank assumed coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price on the stock.
Read Our Latest Research Report on ZLAB
Zai Lab Price Performance
The stock has a 50-day moving average price of $32.72 and a 200-day moving average price of $28.77. The firm has a market capitalization of $3.48 billion, a PE ratio of -11.47 and a beta of 1.07.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results 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). 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 during the quarter, compared to analyst estimates of $110.15 million. As a group, equities research analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Zai Lab news, CEO Ying Du sold 50,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the transaction, the chief executive officer now owns 494,117 shares of the company's stock, valued at $17,032,212.99. This trade represents a 9.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Yajing Chen sold 5,280 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total value of $189,499.20. Following the completion of the sale, the chief financial officer now owns 25,471 shares of the company's stock, valued at $914,154.19. This trade represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,001 shares of company stock valued at $4,495,143 in the last ninety days. Corporate insiders own 13.88% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new position in Zai Lab in the fourth quarter valued at approximately $29,000. Pictet Asset Management Holding SA acquired a new position in Zai Lab during the 4th quarter valued at approximately $31,000. Barclays PLC grew its stake in Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after buying an additional 2,856 shares during the last quarter. US Bancorp DE increased its position in Zai Lab by 1,671.9% in the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after buying an additional 5,534 shares during the period. Finally, Jasper Ridge Partners L.P. bought a new stake in Zai Lab in the fourth quarter valued at $210,000. 41.65% of the stock is 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.
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