Zai Lab (NASDAQ:ZLAB) Hits New 52-Week Low at $15.53

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The company traded as low as $15.53 and last traded at $15.62, with a volume of 59184 shares. The stock had previously closed at $16.04.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a report on Friday, January 12th. Citigroup lowered their target price on Zai Lab from $123.00 to $66.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Finally, Morgan Stanley initiated coverage on Zai Lab in a report on Thursday, December 14th. They issued an "overweight" rating and a $47.50 price target on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Zai Lab presently has an average rating of "Buy" and a consensus price target of $64.22.

Zai Lab Stock Performance

The firm has a market capitalization of $1.57 billion, a P/E ratio of -4.61 and a beta of 1.10. The business has a fifty day moving average of $19.44 and a 200-day moving average of $23.68.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.11). Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The business had revenue of $65.83 million during the quarter, compared to the consensus estimate of $70.41 million. On average, equities research analysts forecast that Zai Lab Limited will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other news, insider Rafael Amado sold 2,544 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the completion of the sale, the insider now directly owns 20,093 shares of the company's stock, valued at approximately $378,953.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc increased its holdings in shares of Zai Lab by 7.3% in the third quarter. Ensign Peak Advisors Inc now owns 5,850 shares of the company's stock valued at $200,000 after buying an additional 400 shares in the last quarter. Aviva PLC lifted its holdings in shares of Zai Lab by 1.1% during the first quarter. Aviva PLC now owns 35,870 shares of the company's stock valued at $1,578,000 after purchasing an additional 400 shares during the last quarter. National Pension Service lifted its holdings in shares of Zai Lab by 2.4% during the third quarter. National Pension Service now owns 18,356 shares of the company's stock valued at $644,000 after purchasing an additional 423 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Zai Lab by 5.2% in the 4th quarter. Voya Investment Management LLC now owns 9,013 shares of the company's stock valued at $277,000 after purchasing an additional 443 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Zai Lab by 45.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company's stock worth $48,000 after purchasing an additional 548 shares in the last quarter. Institutional investors own 41.65% of the company's stock.

About Zai Lab

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.