Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $29.71, but opened at $31.83. Zai Lab shares last traded at $31.81, with a volume of 131,830 shares trading hands.
Wall Street Analyst Weigh In
ZLAB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Bank of America reissued a "neutral" rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Scotiabank initiated coverage on shares of Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th.
Get Our Latest Stock Analysis on Zai Lab
Zai Lab Stock Performance
The company has a 50 day moving average of $33.29 and a 200 day moving average of $29.50. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -11.55 and a beta of 1.09.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). The business had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. On average, equities analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.
Insider Activity at Zai Lab
In related news, insider Frazor Titus Edmondson III sold 14,544 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the transaction, the insider now directly owns 14,328 shares in the company, valued at approximately $472,537.44. This represents a 50.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the sale, the chief executive officer now directly owns 494,117 shares of the company's stock, valued at approximately $17,032,212.99. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,744 shares of company stock valued at $4,685,294. 13.88% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Zai Lab
A number of hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new position in Zai Lab during the fourth quarter worth about $29,000. Pictet Asset Management Holding SA purchased a new position in shares of Zai Lab during the 4th quarter worth approximately $31,000. Barclays PLC increased its holdings in 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 during the last quarter. Palumbo Wealth Management LLC purchased a new stake in Zai Lab in the first quarter valued at approximately $203,000. Finally, US Bancorp DE lifted its stake in Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after purchasing an additional 5,534 shares in the last quarter. 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.
Further Reading
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