Zai Lab (NASDAQ:ZLAB) Stock Price Down 2.4%

Zai Lab Limited (NASDAQ:ZLAB)’s stock price was down 2.4% during trading on Wednesday . The company traded as low as $14.04 and last traded at $14.07. Approximately 11,979 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 635,869 shares. The stock had previously closed at $14.42.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ZLAB shares. Citigroup lowered their price target on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Friday, January 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $64.22.

Zai Lab Stock Performance

The company’s fifty day moving average is $18.02 and its 200-day moving average is $22.99.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.11). Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The firm had revenue of $65.83 million during the quarter, compared to analysts’ expectations of $70.41 million. As a group, equities analysts predict that Zai Lab Limited will post -3.1 EPS for the current year.

Insiders Place Their Bets

In other news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the sale, the insider now directly owns 28,684 shares of the company’s stock, valued at $449,478.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Rafael Amado sold 2,544 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the transaction, the insider now directly owns 20,093 shares in the company, valued at $378,953.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the transaction, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,568 shares of company stock valued at $208,508. 5.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zai Lab

Several hedge funds have recently modified their holdings of ZLAB. 1832 Asset Management L.P. purchased a new stake in shares of Zai Lab during the 4th quarter worth about $28,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Zai Lab by 68.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock worth $33,000 after acquiring an additional 557 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after buying an additional 700 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Zai Lab by 45.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock valued at $48,000 after buying an additional 548 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Zai Lab by 1,923.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after buying an additional 2,424 shares in the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

About Zai Lab

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.