Shares of Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $39.98 and last traded at $39.50, with a volume of 22132 shares traded. The stock had previously closed at $37.87.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. 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 research report on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank initiated coverage on shares of Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective for the company. Finally, Bank of America reaffirmed a "neutral" rating and set a $36.10 price objective (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.
View Our Latest Analysis on ZLAB
Zai Lab Stock Performance
The firm has a 50 day moving average price of $30.96 and a two-hundred day moving average price of $30.16. The company has a market capitalization of $4.41 billion, a P/E ratio of -14.44 and a beta of 0.96.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted 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. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The business had revenue of $106.49 million for the quarter, compared to analyst estimates of $118.40 million. On average, equities analysts expect that Zai Lab Limited will post -2.58 earnings per share for the current year.
Insider Transactions at Zai Lab
In related news, insider Frazor Titus Edmondson III sold 4,369 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total value of $156,803.41. Following the completion of the sale, the insider now owns 27,217 shares of the company's stock, valued at $976,818.13. This trade represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Rafael Amado sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.41, for a total transaction of $115,230.00. Following the completion of the transaction, the insider now owns 30,834 shares of the company's stock, valued at $1,184,333.94. This trade represents a 8.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,207 shares of company stock worth $3,880,239. Insiders own 4.96% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in shares of Zai Lab during the fourth quarter worth $29,000. Pictet Asset Management Holding SA acquired a new stake in Zai Lab in the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd bought a new stake in Zai Lab during the 1st quarter worth about $75,000. Barclays PLC lifted its position in Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after purchasing an additional 2,856 shares during the period. Finally, Advisors Preferred LLC bought a new position in shares of Zai Lab in the 1st quarter valued at about $110,000. 41.65% of the stock is currently owned by institutional investors.
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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