Zai Lab (NASDAQ:ZLAB) Shares Gap Up to $14.07

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $14.07, but opened at $14.73. Zai Lab shares last traded at $14.91, with a volume of 155,613 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZLAB. Citigroup reduced their price objective on shares of Zai Lab from $123.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Friday, January 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $64.22.

Zai Lab Stock Performance

The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -4.34 and a beta of 1.10. The company has a fifty day simple moving average of $17.82 and a two-hundred day simple moving average of $22.85.

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

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 5,787 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total transaction of $93,460.05. Following the completion of the sale, the chief executive officer now owns 1,107,972 shares in the company, valued at $17,893,747.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ying Du sold 5,787 shares of Zai Lab 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 sale, the chief executive officer now owns 1,107,972 shares of the company's stock, valued at approximately $17,893,747.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rafael Amado sold 2,544 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now owns 20,093 shares of the company's stock, valued at approximately $378,953.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,568 shares of company stock valued at $208,508. 5.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zai Lab

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised 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. Bamco Inc. NY boosted its holdings in shares of Zai Lab by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,579,349 shares of the company's stock worth $38,394,000 after purchasing an additional 67,288 shares in the last quarter. Rock Springs Capital Management LP raised its holdings in shares of Zai Lab by 1.2% during the 3rd quarter. Rock Springs Capital Management LP now owns 1,237,023 shares of the company's stock valued at $30,072,000 after buying an additional 14,600 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Zai Lab by 1.4% in the third quarter. Clearbridge Investments LLC now owns 822,888 shares of the company's stock worth $20,004,000 after buying an additional 11,574 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Zai Lab by 26.1% during the fourth quarter. Allianz Asset Management GmbH now owns 679,524 shares of the company's stock valued at $18,571,000 after acquiring an additional 140,461 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

Zai Lab Company Profile

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.