Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $31.13, but opened at $34.16. Zai Lab shares last traded at $35.98, with a volume of 419,580 shares traded.
Analyst Ratings Changes
A number of equities research analysts have weighed in on ZLAB shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Bank of America restated a "neutral" rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price target on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Finally, Scotiabank initiated coverage on shares of Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock.
Get Our Latest Stock Report on ZLAB
Zai Lab Trading Up 1.3%
The stock's 50-day moving average is $30.91 and its 200-day moving average is $29.94. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -13.19 and a beta of 1.04.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $106.49 million for the quarter, compared to the consensus estimate of $118.40 million. As a group, analysts predict that Zai Lab Limited will post -2.58 EPS for the current year.
Insider Buying and Selling at Zai Lab
In other Zai Lab news, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.41, for a total value of $115,230.00. Following the sale, the insider now owns 30,834 shares of the company's stock, valued at approximately $1,184,333.94. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frazor Titus Edmondson III sold 4,369 shares of Zai Lab stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total transaction of $156,803.41. Following the completion of the sale, the insider now directly owns 27,217 shares in the company, valued at approximately $976,818.13. This represents a 13.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,207 shares of company stock worth $3,880,239. 4.96% of the stock is owned by corporate insiders.
Institutional Trading of Zai Lab
Hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new position in shares of Zai Lab in the fourth quarter worth about $29,000. Pictet Asset Management Holding SA purchased a new stake in shares of Zai Lab in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Zai Lab in the 1st quarter valued at $75,000. Barclays PLC boosted its stake in shares of Zai Lab by 337.6% in 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 in the last quarter. Finally, Advisors Preferred LLC bought a new stake in Zai Lab during the 1st quarter valued at $110,000. Institutional investors own 41.65% of the company's stock.
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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