Zai Lab (NASDAQ:ZLAB) Hits New 1-Year High – What’s Next?

Zai Lab Limited (NASDAQ:ZLAB)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $39.77 and last traded at $38.29, with a volume of 417212 shares trading hands. The stock had previously closed at $36.18.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Bank of America reiterated a “neutral” rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Scotiabank started coverage on Zai Lab in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price target on the stock.

Zai Lab Trading Up 3.5 %

The company has a market capitalization of $4.10 billion, a PE ratio of -13.51 and a beta of 1.08. The business’s 50-day simple moving average is $31.54 and its 200-day simple moving average is $28.13.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). The company 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%. Sell-side analysts forecast that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12. Following the transaction, the insider now directly owns 14,328 shares of the company’s stock, valued at $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rafael Amado sold 3,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.41, for a total transaction of $115,230.00. Following the sale, the insider now directly owns 30,834 shares of the company’s stock, valued at $1,184,333.94. This represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,127 shares of company stock valued at $4,139,672. Corporate insiders own 13.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in Zai Lab by 34.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock worth $211,488,000 after purchasing an additional 2,232,507 shares during the last quarter. Wellington Management Group LLP raised its holdings in Zai Lab by 18.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after acquiring an additional 1,312,115 shares during the last quarter. FMR LLC lifted its position in Zai Lab by 749.1% during the fourth quarter. FMR LLC now owns 5,475,505 shares of the company’s stock worth $143,403,000 after buying an additional 4,830,646 shares in the last quarter. RTW Investments LP acquired a new position in shares of Zai Lab during the 4th quarter valued at about $65,714,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Zai Lab by 30.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company’s stock valued at $61,653,000 after buying an additional 548,378 shares during the period. 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.