Zai Lab (NASDAQ:ZLAB) Stock Price Up 2.9% – What’s Next?

Shares of Zai Lab Limited (NASDAQ:ZLAB) shot up 2.9% during mid-day trading on Tuesday . The stock traded as high as $38.70 and last traded at $37.19. 379,654 shares were traded during trading, a decline of 50% from the average session volume of 759,950 shares. The stock had previously closed at $36.14.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ZLAB shares. JPMorgan Chase & Co. upped their target price on Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Bank of America reaffirmed a “neutral” rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Scotiabank initiated coverage on shares of Zai Lab in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price on the stock.

Zai Lab Trading Up 3.6 %

The company has a market cap of $4.10 billion, a price-to-earnings ratio of -13.55 and a beta of 1.08. The firm has a 50-day moving average price of $31.96 and a 200 day moving average price of $28.46.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results 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). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The business had revenue of $109.07 million for the quarter, compared to analyst estimates of $110.15 million. Research analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Rafael Amado sold 3,000 shares of the company’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 transaction, the insider now owns 30,834 shares in the company, valued at approximately $1,184,333.94. This represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the sale, the insider now directly owns 14,328 shares in the company, valued at approximately $472,537.44. This trade represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,544 shares of company stock valued at $3,940,391. 13.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in Zai Lab in the fourth quarter worth about $29,000. Public Employees Retirement System of Ohio lifted its stake in shares of Zai Lab by 20.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company’s stock worth $484,000 after acquiring an additional 3,179 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Zai Lab by 2.1% in the fourth 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 in the last quarter. Woodline Partners LP increased its stake in shares of Zai Lab by 9.4% during the fourth quarter. Woodline Partners LP now owns 1,759,797 shares of the company’s stock valued at $46,089,000 after acquiring an additional 151,835 shares during the period. Finally, Vestal Point Capital LP bought a new stake in Zai Lab during the fourth quarter worth approximately $7,857,000. 41.65% of the stock is owned by institutional investors and hedge funds.

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.