Zai Lab (NASDAQ:ZLAB) Trading Down 3.3%

Zai Lab Limited (NASDAQ:ZLAB)’s stock price was down 3.3% on Thursday . The stock traded as low as $20.51 and last traded at $20.86. Approximately 92,212 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 623,649 shares. The stock had previously closed at $21.57.

Analyst Ratings Changes

Several research analysts have commented on ZLAB shares. JPMorgan Chase & Co. lowered their target price on Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $58.97.

Zai Lab Price Performance

The firm has a 50-day simple moving average of $18.43 and a 200 day simple moving average of $18.06. The stock has a market capitalization of $2.04 billion, a P/E ratio of -5.88 and a beta of 1.07.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. The business had revenue of $100.50 million during the quarter, compared to the consensus estimate of $94.46 million. Sell-side analysts anticipate that Zai Lab Limited will post -2.95 earnings per share for the current fiscal year.

Insider Transactions at Zai Lab

In related news, CEO Ying Du sold 23,939 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total transaction of $428,508.10. Following the completion of the transaction, the chief executive officer now directly owns 1,142,833 shares of the company’s stock, valued at approximately $20,456,710.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Joshua L. Smiley sold 4,352 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the transaction, the insider now owns 43,232 shares in the company, valued at approximately $720,677.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ying Du sold 23,939 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total transaction of $428,508.10. Following the sale, the chief executive officer now owns 1,142,833 shares of the company’s stock, valued at $20,456,710.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,286 shares of company stock worth $975,291. Company insiders own 5.23% of the company’s stock.

Institutional Trading of Zai Lab

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Zai Lab by 177.6% in the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock valued at $145,845,000 after purchasing an additional 3,413,829 shares during the period. Capital World Investors lifted its stake in Zai Lab by 8.9% in the first quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after buying an additional 465,337 shares during the period. M&G Plc bought a new position in shares of Zai Lab during the 1st quarter worth approximately $7,266,000. Janus Henderson Group PLC grew its position in shares of Zai Lab by 9.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock worth $70,924,000 after buying an additional 387,729 shares during the period. Finally, Brilliance Asset Management Ltd. increased its stake in shares of Zai Lab by 177.5% in the 4th quarter. Brilliance Asset Management Ltd. now owns 435,926 shares of the company’s stock valued at $11,914,000 after acquiring an additional 278,841 shares in the last quarter. 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.