Zai Lab (NASDAQ:ZLAB) Shares Gap Down to $20.16

Zai Lab Limited (NASDAQ:ZLAB) gapped down before the market opened on Thursday . The stock had previously closed at $20.16, but opened at $19.42. Zai Lab shares last traded at $19.02, with a volume of 71,736 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price target on 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, Zai Lab has a consensus rating of “Buy” and a consensus price target of $64.22.

Zai Lab Price Performance

The firm has a market cap of $1.88 billion, a P/E ratio of -5.46 and a beta of 1.11. The company’s 50-day moving average is $16.91 and its two-hundred day moving average is $21.83.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.38. The company had revenue of $87.15 million during the quarter, compared to the consensus estimate of $77.07 million. Zai Lab had a negative net margin of 116.45% and a negative return on equity of 40.21%. During the same quarter in the prior year, the firm posted ($0.51) EPS. On average, analysts expect that Zai Lab Limited will post -3.06 EPS for the current fiscal year.

Insider Activity

In other news, insider Rafael Amado sold 2,544 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the completion of the transaction, the insider now owns 20,093 shares of the company’s stock, valued at $378,953.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Rafael Amado sold 2,544 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now directly owns 20,093 shares in the company, valued at $378,953.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Frazor Titus Edmondson III sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $21.33, for a total value of $213,300.00. Following the completion of the transaction, the insider now directly owns 16,408 shares of the company’s stock, valued at $349,982.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,568 shares of company stock worth $421,808. Insiders own 5.23% of the company’s stock.

Institutional Trading of Zai Lab

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Baader Bank Aktiengesellschaft bought a new position in shares of Zai Lab during the fourth quarter valued at about $253,000. UBS Group AG raised its position in Zai Lab by 312.4% in the 3rd quarter. UBS Group AG now owns 288,981 shares of the company’s stock worth $7,025,000 after buying an additional 218,907 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Zai Lab by 323.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,802 shares of the company’s stock valued at $159,000 after acquiring an additional 4,431 shares during the period. Bamco Inc. NY boosted its position in Zai Lab by 4.5% in the third quarter. Bamco Inc. NY now owns 1,579,349 shares of the company’s stock worth $38,394,000 after purchasing an additional 67,288 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Zai Lab during the 3rd quarter valued at about $1,169,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

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.