Zai Lab (NASDAQ:ZLAB) Shares Gap Down - Here's Why

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $36.01, but opened at $35.15. Zai Lab shares last traded at $34.59, with a volume of 89,278 shares changing hands.

Wall Street Analysts Forecast Growth

ZLAB has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Zai Lab from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Leerink Partners set a $75.00 target price on shares of Zai Lab and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $54.28.

Zai Lab Trading Down 4.4%

The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -13.82 and a beta of 0.99. The stock has a 50-day moving average of $34.55 and a 200-day moving average of $31.89.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, topping analysts' consensus estimates of ($0.50) by $0.05. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. The company had revenue of $106.49 million for the quarter, compared to the consensus estimate of $118.40 million. As a group, research analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zai Lab news, Director William Lis sold 13,814 shares of Zai Lab stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $35.67, for a total value of $492,745.38. Following the completion of the sale, the director directly owned 35,106 shares in the company, valued at $1,252,231.02. The trade was a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Yajing Chen sold 2,675 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $36.13, for a total transaction of $96,647.75. Following the transaction, the chief financial officer owned 21,004 shares in the company, valued at approximately $758,874.52. This trade represents a 11.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,155 shares of company stock worth $4,959,535. 4.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently bought and sold shares of ZLAB. Kingsview Wealth Management LLC increased its holdings 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 valued at $337,000 after acquiring an additional 529 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Zai Lab in the fourth quarter valued at approximately $29,000. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the fourth quarter worth $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 buying an additional 1,200 shares during the period. Finally, Walleye Capital LLC grew its stake in Zai Lab by 6.4% in the 1st quarter. Walleye Capital LLC now owns 22,276 shares of the company's stock valued at $805,000 after buying an additional 1,338 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors.

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.

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