Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $15.13 and last traded at $15.22, with a volume of 240255 shares trading hands. The stock had previously closed at $16.02.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Citigroup reduced their price target on shares of Zai Lab from $123.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday, February 29th. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research report on Friday, January 12th. Finally, Morgan Stanley assumed coverage on shares of Zai Lab in a research report on Thursday, December 14th. They issued an "overweight" rating and a $47.50 price target on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $64.22.
Check Out Our Latest Analysis on ZLAB
Zai Lab Stock Down 3.9 %
The stock's 50-day moving average price is $18.75 and its 200-day moving average price is $23.35. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -4.46 and a beta of 1.10.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million. On average, equities research analysts anticipate that Zai Lab Limited will post -3.1 EPS for the current year.
Insider Transactions at Zai Lab
In related news, insider Joshua L. Smiley sold 1,988 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the transaction, the insider now directly owns 28,684 shares in the company, valued at $449,478.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ying Du sold 5,787 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the transaction, the chief executive officer now directly owns 1,107,972 shares in the company, valued at $17,893,747.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joshua L. Smiley sold 1,988 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the sale, the insider now directly owns 28,684 shares of the company's stock, valued at approximately $449,478.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,568 shares of company stock worth $208,508. Corporate insiders own 5.23% of the company's stock.
Institutional Investors Weigh In On Zai Lab
Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Zai Lab by 177.6% in the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company's stock valued at $145,845,000 after purchasing an additional 3,413,829 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Zai Lab in the fourth quarter valued at approximately $301,000. Legal & General Group Plc increased its stake in Zai Lab by 20.1% in the fourth quarter. Legal & General Group Plc now owns 834,457 shares of the company's stock valued at $22,818,000 after purchasing an additional 139,832 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in Zai Lab in the fourth quarter valued at approximately $547,000. Finally, Bellevue Group AG bought a new stake in Zai Lab in the fourth quarter valued at approximately $3,714,000. Institutional investors own 41.65% of the company's stock.
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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