Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $34.55, but opened at $35.62. Zai Lab shares last traded at $35.55, with a volume of 133,690 shares traded.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on ZLAB. Scotiabank began coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. increased their target price 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. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Bank of America reiterated a "neutral" rating and set a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.
Read Our Latest Analysis on ZLAB
Zai Lab Trading Up 2.6%
The company's fifty day moving average is $32.80 and its 200-day moving average is $30.83. The firm has a market capitalization of $3.91 billion, a P/E ratio of -14.27 and a beta of 0.96.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.05. Zai Lab had a negative return on equity of 33.35% and a negative net margin of 60.26%. The company had revenue of $106.49 million for the quarter, compared to the consensus estimate of $118.40 million. On average, equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.
Insiders Place Their Bets
In related news, CFO Yajing Chen sold 9,618 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $30.00, for a total value of $288,540.00. Following the sale, the chief financial officer now owns 17,429 shares of the company's stock, valued at $522,870. The trade was a 35.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ying Du sold 5,808 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total transaction of $208,449.12. Following the completion of the transaction, the chief executive officer now directly owns 476,046 shares of the company's stock, valued at $17,085,290.94. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,207 shares of company stock valued at $3,765,009 in the last three months. Company insiders own 4.96% of the company's stock.
Institutional Investors Weigh In On Zai Lab
Several large investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new position in shares of Zai Lab during the 4th quarter worth approximately $29,000. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Zai Lab in the 1st quarter worth about $75,000. Advisors Preferred LLC acquired a new stake in shares of Zai Lab during the 1st quarter worth about $110,000. Finally, Barclays PLC increased its position in shares of Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after purchasing an additional 2,856 shares in the last quarter. 41.65% of the stock is currently owned by 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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