Zai Lab (NASDAQ:ZLAB) Rating Reiterated by Cantor Fitzgerald

Zai Lab (NASDAQ:ZLAB)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports.

Zai Lab Stock Performance

NASDAQ:ZLAB opened at $17.37 on Monday. The company has a market capitalization of $1.72 billion, a PE ratio of -4.98 and a beta of 1.06. The company has a 50 day simple moving average of $18.45 and a two-hundred day simple moving average of $19.89. Zai Lab has a fifty-two week low of $13.48 and a fifty-two week high of $32.60.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.93) by $0.38. Zai Lab had a negative return on equity of 40.21% and a negative net margin of 116.45%. The business had revenue of $87.15 million for the quarter, compared to analysts’ expectations of $77.07 million. During the same period last year, the business earned ($0.51) EPS. Research analysts predict that Zai Lab will post -2.78 EPS for the current year.

Insider Activity

In related news, insider Frazor Titus Edmondson III sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 16,408 shares in the company, valued at approximately $349,982.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Frazor Titus Edmondson III sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $21.33, for a total transaction of $213,300.00. Following the transaction, the insider now directly owns 16,408 shares of the company’s stock, valued at $349,982.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ying Du sold 23,939 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $17.90, for a total value of $428,508.10. Following the transaction, the chief executive officer now directly owns 1,142,833 shares in the company, valued at $20,456,710.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,370 shares of company stock worth $980,360. 5.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after buying an additional 904 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Zai Lab during the first quarter worth about $64,000. Tower Research Capital LLC TRC grew its holdings 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 buying an additional 2,424 shares in the last quarter. Sectoral Asset Management Inc. grew its holdings 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 buying an additional 1,000 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Zai Lab during the 4th quarter valued at approximately $116,000. 41.65% of the stock is owned by 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.