Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s stock price fell 6.1% during trading on Wednesday . The stock traded as low as $28.40 and last traded at $28.54. 224,576 shares were traded during trading, a decline of 73% from the average session volume of 831,453 shares. The stock had previously closed at $30.38.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Bank of America reaffirmed a "neutral" rating and set a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Scotiabank assumed coverage on shares of Zai Lab in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price for the company.
Get Our Latest Report on ZLAB
Zai Lab Price Performance
The firm has a market cap of $3.26 billion, a PE ratio of -10.73 and a beta of 1.09. The business has a fifty day moving average price of $32.97 and a two-hundred day moving average price of $29.30.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $109.07 million during the quarter, compared to analyst estimates 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 forecast that Zai Lab Limited will post -2.58 EPS for the current fiscal year.
Insider Buying and Selling at Zai Lab
In related news, CFO Yajing Chen sold 924 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $33.11, for a total transaction of $30,593.64. Following the completion of the transaction, the chief financial officer now directly owns 27,047 shares in the company, valued at $895,526.17. This represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frazor Titus Edmondson III sold 1,874 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $33.11, for a total transaction of $62,048.14. Following the transaction, the insider now owns 30,375 shares in the company, valued at approximately $1,005,716.25. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,744 shares of company stock valued at $4,685,294 in the last 90 days. 13.88% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of Zai Lab in the 4th quarter valued at $29,000. Pictet Asset Management Holding SA bought a new position in Zai Lab during the fourth quarter worth about $31,000. Barclays PLC boosted its holdings in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after purchasing an additional 2,856 shares in the last quarter. US Bancorp DE grew its stake in shares of Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after purchasing an additional 5,534 shares during the period. Finally, Jasper Ridge Partners L.P. bought a new stake in shares of Zai Lab in the 4th quarter valued at approximately $210,000. 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.
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