Zai Lab (NASDAQ:ZLAB) Stock Price Up 5.3%

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s stock price shot up 5.3% during trading on Wednesday . The company traded as high as $16.12 and last traded at $15.92. 95,132 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 627,789 shares. The stock had previously closed at $15.12.

Analyst Ratings Changes

A number of research firms have recently commented on ZLAB. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Friday, January 12th. 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Zai Lab has a consensus rating of "Buy" and an average target price of $64.22.

Zai Lab Stock Up 3.6 %

The firm has a market capitalization of $1.55 billion, a P/E ratio of -4.54 and a beta of 1.10. The company's 50 day moving average is $17.63 and its 200-day moving average is $22.68.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its 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). The company had revenue of $65.83 million for the quarter, compared to the consensus estimate of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. On average, analysts predict that Zai Lab Limited will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the firm's stock in a transaction 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 of the company's stock, valued at $449,478.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 20,093 shares of the company's stock, valued at $378,953.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joshua L. Smiley sold 1,988 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 28,684 shares in the company, valued at $449,478.28. The disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock valued at $208,508 over the last ninety days. 5.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its holdings in shares of Zai Lab by 68.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company's stock valued at $33,000 after purchasing an additional 557 shares during the last quarter. Shell Asset Management Co. raised its holdings in shares of Zai Lab by 8.3% in the third quarter. Shell Asset Management Co. now owns 8,475 shares of the company's stock valued at $206,000 after purchasing an additional 652 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Zai Lab by 58.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company's stock valued at $46,000 after purchasing an additional 700 shares during the last quarter. Profund Advisors LLC raised its holdings in shares of Zai Lab by 4.9% in the third quarter. Profund Advisors LLC now owns 19,777 shares of the company's stock valued at $481,000 after purchasing an additional 929 shares during the last quarter. Finally, Sectoral Asset Management Inc. raised its holdings in shares of Zai Lab by 33.3% in the fourth quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company's stock valued at $109,000 after purchasing an additional 1,000 shares during the last quarter. 41.65% of the stock is owned by institutional investors.

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.