Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $40.63, but opened at $38.38. Zai Lab shares last traded at $37.78, with a volume of 125,578 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on ZLAB shares. JPMorgan Chase & Co. boosted their target price on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Bank of America reissued a "neutral" rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Scotiabank assumed coverage on Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th.
Get Our Latest Research Report on ZLAB
Zai Lab Price Performance
The company has a market cap of $4.11 billion, a PE ratio of -14.95 and a beta of 0.96. The company has a fifty day moving average price of $32.25 and a 200 day moving average price of $30.66.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.05. The company had revenue of $106.49 million during the quarter, compared to the consensus estimate of $118.40 million. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. As a group, sell-side analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.
Insider Activity
In related news, insider Frazor Titus Edmondson III sold 4,369 shares of Zai Lab stock in a transaction 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 transaction, the insider now directly owns 27,217 shares of the company's stock, valued at $976,818.13. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ying Du sold 5,808 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total transaction of $208,449.12. Following the sale, the chief executive officer now directly owns 476,046 shares of the company's stock, valued at $17,085,290.94. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,207 shares of company stock worth $3,765,009. 4.96% of the stock is currently owned by insiders.
Institutional Trading of Zai Lab
A number of institutional investors have recently modified their holdings of ZLAB. FMR LLC lifted its position in shares of Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock worth $143,403,000 after purchasing an additional 4,830,646 shares during the period. RTW Investments LP bought a new stake in Zai Lab during the 4th quarter valued at approximately $65,714,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Zai Lab by 46,222.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,132,201 shares of the company's stock worth $77,058,000 after acquiring an additional 2,127,598 shares during the period. Principal Financial Group Inc. bought a new position in shares of Zai Lab in the 4th quarter worth approximately $46,172,000. Finally, RA Capital Management L.P. purchased a new position in shares of Zai Lab in the 4th quarter valued at approximately $33,917,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.
Zai Lab Company Profile
(
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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