Zai Lab (NASDAQ:ZLAB) Receives “Overweight” Rating from Cantor Fitzgerald

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

ZLAB has been the subject of several other research reports. Scotiabank assumed coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Finally, Bank of America reaffirmed a “neutral” rating and set a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.

Zai Lab Stock Down 4.2 %

ZLAB opened at $33.91 on Thursday. Zai Lab has a 52 week low of $13.48 and a 52 week high of $39.61. The firm has a 50-day simple moving average of $31.32 and a two-hundred day simple moving average of $28.07. The company has a market capitalization of $3.72 billion, a PE ratio of -12.24 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The firm had revenue of $109.07 million for the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, sell-side analysts expect that Zai Lab will post -2.58 earnings per share for the current year.

Insider Transactions at Zai Lab

In other news, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the transaction, the chief executive officer now directly owns 494,117 shares in the company, valued at approximately $17,032,212.99. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Rafael Amado sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.41, for a total transaction of $115,230.00. Following the completion of the sale, the insider now owns 30,834 shares in the company, valued at $1,184,333.94. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,127 shares of company stock valued at $4,139,672. 13.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Zai Lab

Several large investors have recently added to or reduced their stakes in ZLAB. GF Fund Management CO. LTD. purchased a new stake in Zai Lab in the fourth quarter valued at approximately $29,000. Pictet Asset Management Holding SA acquired a new stake in Zai Lab in the fourth quarter valued at approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Zai Lab by 2.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock valued at $1,496,000 after acquiring an additional 1,200 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Zai Lab by 4.2% in the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company’s stock valued at $1,161,000 after acquiring an additional 1,790 shares in the last quarter. Hedge funds and other institutional investors 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.