Zai Lab (NASDAQ:ZLAB) Shares Up 10.1%

Zai Lab Limited (NASDAQ:ZLAB) traded up 10.1% on Thursday . The company traded as high as $22.46 and last traded at $22.40. 515,766 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 618,609 shares. The stock had previously closed at $20.34.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Zai Lab from $43.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Wednesday, August 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $58.97.

Zai Lab Price Performance

The stock has a market capitalization of $2.25 billion, a P/E ratio of -6.50 and a beta of 1.07. The company’s 50 day simple moving average is $18.96 and its two-hundred day simple moving average is $18.08.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.16). The firm had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. On average, research analysts anticipate that Zai Lab Limited will post -2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joshua L. Smiley sold 4,352 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ying Du sold 7,013 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $17.48, for a total transaction of $122,587.24. Following the transaction, the chief executive officer now directly owns 1,081,910 shares in the company, valued at $18,911,786.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $72,547.84. Following the transaction, the insider now owns 43,232 shares in the company, valued at $720,677.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,762 shares of company stock valued at $375,211. 5.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zai Lab

Several large investors have recently bought and sold shares of ZLAB. Trexquant Investment LP acquired a new position in Zai Lab in the fourth quarter valued at approximately $572,000. TD Asset Management Inc lifted its holdings in Zai Lab by 8.6% in the fourth quarter. TD Asset Management Inc now owns 235,570 shares of the company’s stock valued at $6,438,000 after buying an additional 18,600 shares during the period. Allianz Asset Management GmbH lifted its holdings in Zai Lab by 26.1% in the fourth quarter. Allianz Asset Management GmbH now owns 679,524 shares of the company’s stock valued at $18,571,000 after buying an additional 140,461 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Zai Lab in the fourth quarter valued at approximately $432,000. Finally, Brilliance Asset Management Ltd. lifted its holdings in Zai Lab by 177.5% in the fourth quarter. Brilliance Asset Management Ltd. now owns 435,926 shares of the company’s stock valued at $11,914,000 after buying an additional 278,841 shares during the period. 41.65% of the stock is currently 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.