Zai Lab (NASDAQ:ZLAB) Given “Overweight” Rating at Cantor Fitzgerald

Zai Lab (NASDAQ:ZLAB)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports.

Zai Lab Trading Up 2.1 %

Shares of ZLAB stock traded up $0.37 on Monday, reaching $17.70. 42,868 shares of the stock were exchanged, compared to its average volume of 634,626. The business’s 50 day moving average price is $18.36 and its 200 day moving average price is $20.07. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -5.13 and a beta of 1.06. Zai Lab has a twelve month low of $13.48 and a twelve month high of $32.60.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Wednesday, May 8th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.38. Zai Lab had a negative net margin of 116.45% and a negative return on equity of 40.21%. The firm had revenue of $87.15 million during the quarter, compared to the consensus estimate of $77.07 million. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. Equities research analysts forecast that Zai Lab will post -2.78 earnings per share for the current year.

Insider Buying and Selling at Zai Lab

In related news, insider Joshua L. Smiley sold 1,988 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the transaction, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the transaction, the insider now owns 28,684 shares in the company, valued at approximately $449,478.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ying Du sold 5,787 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the completion of the transaction, the chief executive officer now owns 1,107,972 shares in the company, valued at approximately $17,893,747.80. The disclosure for this sale can be found here. Insiders sold 53,548 shares of company stock worth $973,907 over the last 90 days. Corporate insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Several institutional investors have recently added to or reduced their stakes in ZLAB. Swedbank AB acquired a new position in Zai Lab during the 1st quarter worth approximately $244,000. Tidal Investments LLC acquired a new position in Zai Lab during the 1st quarter worth approximately $334,000. Janus Henderson Group PLC increased its position in Zai Lab by 9.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock worth $70,924,000 after purchasing an additional 387,729 shares during the period. Bamco Inc. NY increased its position in Zai Lab by 7.3% during the 1st quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock worth $25,630,000 after purchasing an additional 108,991 shares during the period. Finally, Capital World Investors increased its position in Zai Lab by 8.9% during the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock worth $91,061,000 after purchasing an additional 465,337 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.