Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) was the target of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 4,980,000 shares, a decline of 25.1% from the April 30th total of 6,650,000 shares. Based on an average trading volume of 1,250,000 shares, the days-to-cover ratio is presently 4.0 days. Currently, 5.3% of the shares of the stock are short sold.
Zai Lab Price Performance
Shares of ZLAB stock traded up $1.05 during mid-day trading on Monday, hitting $31.19. The stock had a trading volume of 904,311 shares, compared to its average volume of 868,418. Zai Lab has a 12-month low of $16.01 and a 12-month high of $39.77. The firm has a market capitalization of $3.44 billion, a P/E ratio of -11.26 and a beta of 1.04. The firm's 50-day moving average is $31.08 and its two-hundred day moving average is $29.78.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.05. The business had revenue of $106.49 million during the quarter, compared to analysts' expectations of $118.40 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. Analysts expect that Zai Lab will post -2.58 EPS for the current year.
Insiders Place Their Bets
In other Zai Lab news, insider Frazor Titus Edmondson III sold 1,874 shares of Zai Lab stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $33.11, for a total value of $62,048.14. Following the sale, the insider now owns 30,375 shares of the company's stock, valued at $1,005,716.25. The trade was a 5.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ying Du sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $28.57, for a total value of $1,428,500.00. Following the transaction, the chief executive officer now directly owns 479,851 shares in the company, valued at approximately $13,709,343.07. This represents a 9.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 120,589 shares of company stock valued at $3,591,699 in the last quarter. 4.96% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Zai Lab
A number of hedge funds have recently made changes to their positions in the stock. Kingsview Wealth Management LLC lifted its stake in shares of Zai Lab by 6.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 9,323 shares of the company's stock worth $337,000 after purchasing an additional 529 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Zai Lab during the 4th quarter worth $29,000. Pictet Asset Management Holding SA purchased a new stake in shares of Zai Lab during the 4th quarter worth $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Zai Lab by 2.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company's stock worth $1,496,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Walleye Capital LLC lifted its stake in shares of Zai Lab by 6.4% during the 1st quarter. Walleye Capital LLC now owns 22,276 shares of the company's stock worth $805,000 after purchasing an additional 1,338 shares during the last quarter. 41.65% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently issued reports on ZLAB. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Scotiabank initiated coverage on Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Bank of America reiterated a "neutral" rating and issued a $36.10 target price (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.
View Our Latest Stock Analysis on ZLAB
About Zai Lab
(
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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