Zai Lab (NASDAQ:ZLAB) Shares Up 10.1%

Zai Lab Limited (NASDAQ:ZLAB) shot up 10.1% during mid-day trading on Thursday . The stock traded as high as $22.46 and last traded at $22.40. 515,766 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 618,609 shares. The stock had previously closed at $20.34.

Analyst Upgrades and Downgrades

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

Zai Lab Trading Up 11.1 %

The firm’s fifty day moving average price is $18.96 and its 200 day moving average price is $18.08. The firm has a market capitalization of $2.25 billion, a PE ratio of -6.50 and a beta of 1.07.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate 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 company had revenue of $100.50 million for the quarter, compared to analysts’ expectations of $94.46 million. As a group, research analysts expect that Zai Lab Limited will post -2.95 EPS for the current year.

Insider Activity at Zai Lab

In related news, Director William Lis sold 10,397 shares of Zai Lab stock in a transaction on Monday, July 1st. The shares were sold at an average price of $17.32, for a total value of $180,076.04. Following the completion of the sale, the director now owns 53,089 shares of the company’s stock, valued at approximately $919,501.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.67, for a total transaction of $72,547.84. Following the completion of the transaction, the insider now owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Lis sold 10,397 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $17.32, for a total transaction of $180,076.04. Following the transaction, the director now directly owns 53,089 shares of the company’s stock, valued at approximately $919,501.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,762 shares of company stock valued at $375,211. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the last quarter. Headlands Technologies LLC acquired a new position in Zai Lab during the 1st quarter worth $64,000. Sectoral Asset Management Inc. lifted its position in Zai Lab by 33.3% during the 4th quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock worth $109,000 after acquiring an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Zai Lab by 64.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,530 shares of the company’s stock valued at $153,000 after buying an additional 3,728 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Zai Lab during the first quarter valued at about $244,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.