Zai Lab (NASDAQ:ZLAB) Stock Price Down 2.4%

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) dropped 2.4% during trading on Wednesday . The company traded as low as $14.04 and last traded at $14.07. Approximately 11,979 shares changed hands during trading, a decline of 98% from the average daily volume of 635,869 shares. The stock had previously closed at $14.42.

Wall Street Analysts Forecast Growth

ZLAB has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup lowered their price objective on 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, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $64.22.

Zai Lab Price Performance

The firm has a market cap of $1.36 billion, a PE ratio of -3.98 and a beta of 1.10. The company has a 50 day simple moving average of $18.02 and a 200-day simple moving average of $22.99.

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

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the business's stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the sale, the insider now owns 28,684 shares in the company, valued at $449,478.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ying Du sold 5,787 shares of the company's stock in a transaction that occurred 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 transaction, 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 SEC, which is available through this hyperlink. 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 value of $31,151.96. Following the transaction, the insider now 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 90 days, insiders sold 12,568 shares of company stock worth $208,508. 5.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zai Lab

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ensign Peak Advisors Inc raised its holdings in shares of Zai Lab by 7.3% during the third quarter. Ensign Peak Advisors Inc now owns 5,850 shares of the company's stock valued at $200,000 after acquiring an additional 400 shares in the last quarter. Aviva PLC raised 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 acquiring an additional 400 shares in the last quarter. National Pension Service raised its holdings in Zai Lab by 2.4% in the third quarter. National Pension Service now owns 18,356 shares of the company's stock worth $644,000 after purchasing an additional 423 shares in the last quarter. Voya Investment Management LLC raised its holdings in Zai Lab by 5.2% in the fourth quarter. Voya Investment Management LLC now owns 9,013 shares of the company's stock worth $277,000 after purchasing an additional 443 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Zai Lab by 45.0% in the fourth 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.

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.