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

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $34.66, but opened at $37.50. Zai Lab shares last traded at $37.02, with a volume of 536,478 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Leerink Partners set a $75.00 price objective on shares of Zai Lab and gave the stock an "outperform" rating in a research note on Monday, June 30th. Finally, Wall Street Zen cut shares of Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.28.

Zai Lab Trading Up 1.1%

The business's 50 day moving average is $35.10 and its 200 day moving average is $32.17. The stock has a market capitalization of $4.20 billion, a PE ratio of -15.17 and a beta of 0.99.

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 firm had revenue of $106.49 million during the quarter, compared to analysts' expectations of $118.40 million. As a group, analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 479,851 shares of the company's stock, valued at $13,709,343.07. The trade was a 9.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Lis sold 13,814 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $35.67, for a total transaction of $492,745.38. Following the completion of the sale, the director directly owned 35,106 shares of the company's stock, valued at approximately $1,252,231.02. This trade represents a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,155 shares of company stock valued at $4,959,535. Company insiders own 4.96% of the company's stock.

Institutional Investors Weigh In On Zai Lab

Several large investors have recently added to or reduced their stakes in the stock. 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 purchased a new stake in shares of Zai Lab in the 4th quarter worth approximately $65,714,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Zai Lab by 46,222.0% in 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 purchasing an additional 2,127,598 shares during the period. RA Capital Management L.P. purchased a new stake in shares of Zai Lab in the 4th quarter worth approximately $33,917,000. Finally, Principal Financial Group Inc. lifted its position in shares of Zai Lab by 63.6% in the 1st quarter. Principal Financial Group Inc. now owns 2,884,810 shares of the company's stock worth $104,257,000 after purchasing an additional 1,121,856 shares during the period. 41.65% of the stock is owned by hedge funds and other 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.