Zai Lab (NASDAQ:ZLAB) Shares Up 5.3%

Zai Lab Limited (NASDAQ:ZLAB) shares were up 5.3% during trading on Wednesday . The company traded as high as $16.12 and last traded at $15.92. Approximately 95,132 shares were traded during trading, a decline of 85% from the average daily volume of 627,789 shares. The stock had previously closed at $15.12.

Analyst Ratings Changes

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

Zai Lab Stock Up 2.5 %

The company has a market capitalization of $1.54 billion, a P/E ratio of -4.61 and a beta of 1.10. The company’s 50-day simple moving average is $17.70 and its 200 day simple moving average is $22.73.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Tuesday, February 27th. The company reported ($0.98) 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 business had revenue of $65.83 million during the quarter, compared to the consensus estimate of $70.41 million. As a group, equities research analysts forecast that Zai Lab Limited will post -3.1 earnings per share for the current year.

Insider Transactions at Zai Lab

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 value of $31,151.96. Following the completion of the sale, the insider now directly owns 28,684 shares in the company, valued at $449,478.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $31,151.96. Following the completion of the sale, the insider now directly owns 28,684 shares in the company, valued at $449,478.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ying Du sold 5,787 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total transaction of $93,460.05. Following the completion of the sale, the chief executive officer now owns 1,107,972 shares of the company’s stock, valued at $17,893,747.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,568 shares of company stock worth $208,508. 5.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Zai Lab

Large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its stake in 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 valued at $33,000 after purchasing an additional 557 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Zai Lab by 58.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after purchasing an additional 700 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Zai Lab by 1,923.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after purchasing an additional 2,424 shares during the last quarter. Sectoral Asset Management Inc. raised its stake in Zai Lab by 33.3% during the 4th quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock valued at $109,000 after purchasing an additional 1,000 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Zai Lab during the 4th quarter valued at $116,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.