Zai Lab (NASDAQ:ZLAB) Shares Up 5.3%

Shares of Zai Lab Limited (NASDAQ:ZLAB) rose 5.3% on Monday . The company traded as high as $19.00 and last traded at $18.98. Approximately 271,724 shares changed hands during trading, a decline of 56% from the average daily volume of 615,779 shares. The stock had previously closed at $18.02.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Zai Lab has a consensus rating of “Buy” and a consensus target price of $58.97.

Zai Lab Price Performance

The business has a 50-day moving average of $17.87 and a two-hundred day moving average of $18.01. The company has a market cap of $1.90 billion, a P/E ratio of -5.16 and a beta of 1.06.

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

Insider Buying and Selling

In other 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 sale, the insider now directly owns 43,232 shares of the company’s stock, valued at $720,677.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Joshua L. Smiley sold 4,352 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.67, for a total value of $72,547.84. Following the sale, the insider now owns 43,232 shares in the company, valued at $720,677.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ying Du sold 23,939 shares of the stock in a transaction that occurred 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 owns 1,142,833 shares in the company, valued at approximately $20,456,710.70. The disclosure for this sale can be found here. Insiders sold 55,286 shares of company stock worth $975,291 in the last three months. Corporate insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Large investors have recently made changes to their positions in the company. New York State Common Retirement Fund boosted its position in Zai Lab by 4,470.6% during the fourth quarter. New York State Common Retirement Fund now owns 33,548 shares of the company’s stock worth $917,000 after purchasing an additional 32,814 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in Zai Lab in the 4th quarter worth $253,000. Kingsview Wealth Management LLC purchased a new stake in Zai Lab in the 4th quarter worth $202,000. Trexquant Investment LP acquired a new position in Zai Lab during the fourth quarter worth $572,000. Finally, TD Asset Management Inc lifted its holdings in Zai Lab by 8.6% during the fourth quarter. TD Asset Management Inc now owns 235,570 shares of the company’s stock valued at $6,438,000 after purchasing an additional 18,600 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.