Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Get Free Report) shares gapped up before the market opened on Friday. The stock had previously closed at $22.04, but opened at $23.19. Zai Lab shares last traded at $23.6190, with a volume of 566,874 shares traded.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on ZLAB shares. Wall Street Zen raised Zai Lab from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Citigroup upped their price objective on Zai Lab from $44.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings raised Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Zacks Research upgraded Zai Lab from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Zai Lab has a consensus rating of “Moderate Buy” and an average price target of $37.25.
Get Our Latest Report on Zai Lab
Zai Lab Price Performance
The business has a 50 day simple moving average of $25.27 and a 200-day simple moving average of $21.77. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -13.27 and a beta of 0.73.
Zai Lab (NASDAQ:ZLAB – Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.50) EPS for the quarter. Zai Lab had a negative net margin of 41.86% and a negative return on equity of 27.43%. The company had revenue of $106.31 million during the quarter. As a group, equities analysts predict that Zai Lab Limited Unsponsored ADR will post -2.37 earnings per share for the current year.
Insider Activity at Zai Lab
In other news, Director William Lis sold 8,506 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.00, for a total value of $212,650.00. Following the completion of the sale, the director owned 41,931 shares of the company’s stock, valued at approximately $1,048,275. This represents a 16.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 9,385 shares of company stock valued at $235,145. Corporate insiders own 4.88% of the company’s stock.
Institutional Trading of Zai Lab
Institutional investors and hedge funds have recently bought and sold shares of the business. Seven Fleet Capital Management LP grew its stake in Zai Lab by 74.7% in the 2nd quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock valued at $2,584,000 after buying an additional 58,158 shares during the last quarter. Headlands Technologies LLC grew its position in Zai Lab by 142.0% during the 2nd quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock worth $1,292,000 after acquiring an additional 39,901 shares during the last quarter. WealthPlan Investment Management LLC acquired a new stake in Zai Lab during the 3rd quarter valued at approximately $969,000. Finally, Nykredit A S acquired a new position in Zai Lab in the second quarter valued at approximately $79,000. Institutional investors own 41.65% of the company’s stock.
About Zai Lab
Zai Lab Ltd. (NASDAQ:ZLAB) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. Its research and development activities have included oncology, autoimmune and inflammatory disorders, neuroscience, infectious diseases and other areas of significant unmet medical need.
Founded in 2014, Zai Lab has built its business through a combination of internally developed programs and licensing or collaboration agreements with international pharmaceutical and biotechnology companies.
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