Zai Lab (NASDAQ:ZLAB) Shares Down 4.4%

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) dropped 4.4% during trading on Tuesday . The company traded as low as $19.50 and last traded at $19.92. Approximately 88,493 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 660,296 shares. The stock had previously closed at $20.84.

Analyst Upgrades and Downgrades

Separately, Citigroup cut their price objective on shares of Zai Lab from $123.00 to $66.00 and set a "buy" rating for the company in a research report on Thursday, February 29th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zai Lab presently has a consensus rating of "Buy" and an average target price of $64.22.

Zai Lab Trading Down 4.0 %

The firm has a 50-day moving average of $16.91 and a two-hundred day moving average of $21.84. The firm has a market capitalization of $1.99 billion, a P/E ratio of -5.73 and a beta of 1.11.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.93) by $0.38. Zai Lab had a negative net margin of 116.45% and a negative return on equity of 40.21%. The business had revenue of $87.15 million during the quarter, compared to analysts' expectations of $77.07 million. During the same period in the prior year, the company earned ($0.51) EPS. On average, sell-side analysts anticipate that Zai Lab Limited will post -3.06 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Frazor Titus Edmondson III sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $21.33, for a total value of $213,300.00. Following the completion of the transaction, the insider now directly owns 16,408 shares in the company, valued at approximately $349,982.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Zai Lab news, insider Frazor Titus Edmondson III sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $21.33, for a total transaction of $213,300.00. Following the completion of the transaction, the insider now owns 16,408 shares in the company, valued at approximately $349,982.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joshua L. Smiley sold 1,988 shares of the company'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 sale, 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. Over the last three months, insiders sold 22,568 shares of company stock worth $421,808. 5.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zai Lab

Several large investors have recently added to or reduced their stakes in the business. Triatomic Management LP increased its stake in shares of Zai Lab by 30.8% in the 3rd quarter. Triatomic Management LP now owns 17,000 shares of the company's stock valued at $413,000 after acquiring an additional 4,000 shares in the last quarter. Shell Asset Management Co. boosted its position in shares of Zai Lab by 8.3% during the 3rd quarter. Shell Asset Management Co. now owns 8,475 shares of the company's stock worth $206,000 after purchasing an additional 652 shares in the last quarter. Vivo Capital LLC grew its stake in shares of Zai Lab by 2.0% in the 3rd quarter. Vivo Capital LLC now owns 454,606 shares of the company's stock valued at $11,051,000 after buying an additional 9,101 shares during the period. UBS Group AG increased its position in Zai Lab by 312.4% in the 3rd quarter. UBS Group AG now owns 288,981 shares of the company's stock valued at $7,025,000 after buying an additional 218,907 shares in the last quarter. Finally, Aviva PLC raised its stake in Zai Lab by 2.5% during the 3rd quarter. Aviva PLC now owns 56,770 shares of the company's stock worth $1,380,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds 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.