Zai Lab (NASDAQ:ZLAB) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen downgraded shares of Zai Lab (NASDAQ:ZLAB - Free Report) from a buy rating to a hold rating in a research note released on Friday.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank started coverage on Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target for the company. Finally, Bank of America restated a "neutral" rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Zai Lab currently has a consensus rating of "Moderate Buy" and an average target price of $54.28.

Zai Lab Stock Up 0.7%

Shares of ZLAB stock traded up $0.23 on Friday, hitting $34.97. The company had a trading volume of 847,285 shares, compared to its average volume of 909,132. The firm has a market cap of $3.88 billion, a P/E ratio of -14.04 and a beta of 0.96. The company has a 50-day moving average price of $33.57 and a 200-day moving average price of $31.19. Zai Lab has a twelve month low of $16.01 and a twelve month high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.05. Zai Lab had a negative return on equity of 33.35% and a negative net margin of 60.26%. The business had revenue of $106.49 million during the quarter, compared to analysts' expectations of $118.40 million. Equities research analysts expect that Zai Lab will post -2.58 EPS for the current year.

Insider Transactions at Zai Lab

In other Zai Lab news, CFO Yajing Chen sold 9,618 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $30.00, for a total transaction of $288,540.00. Following the transaction, the chief financial officer directly owned 17,429 shares in the company, valued at $522,870. This represents a 35.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Lis sold 13,814 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $35.67, for a total value of $492,745.38. Following the sale, the director directly owned 35,106 shares in the company, valued at $1,252,231.02. This represents a 28.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 167,365 shares of company stock valued at $5,209,564 over the last three months. 4.96% of the stock is currently owned by company insiders.

Institutional Trading of Zai Lab

A number of large investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC increased its position in shares of Zai Lab by 6.0% during the first quarter. Kingsview Wealth Management LLC now owns 9,323 shares of the company's stock worth $337,000 after acquiring an additional 529 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Zai Lab during the fourth quarter worth $29,000. Pictet Asset Management Holding SA purchased a new stake in shares of Zai Lab during the fourth quarter worth $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Zai Lab by 2.1% during the fourth 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 acquiring an additional 1,200 shares during the period. Finally, Walleye Capital LLC increased its position in shares of Zai Lab by 6.4% during the first quarter. Walleye Capital LLC now owns 22,276 shares of the company's stock worth $805,000 after acquiring an additional 1,338 shares during the period. 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.