Zai Lab (NASDAQ:ZLAB) Hits New 1-Year High – Here’s Why

Zai Lab Limited (NASDAQ:ZLAB)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $34.07 and last traded at $33.97, with a volume of 99254 shares. The stock had previously closed at $28.94.

Wall Street Analyst Weigh In

ZLAB has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat, Zai Lab has an average rating of “Buy” and an average target price of $57.71.

Zai Lab Trading Down 2.4 %

The business has a 50 day moving average of $22.65 and a two-hundred day moving average of $19.48. The firm has a market cap of $3.22 billion, a P/E ratio of -9.28 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The company had revenue of $100.50 million for the quarter, compared to analyst estimates of $94.46 million. On average, sell-side analysts predict that Zai Lab Limited will post -2.94 EPS for the current year.

Insider Transactions at Zai Lab

In other news, insider Joshua L. Smiley sold 4,352 shares of the 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 approximately $720,677.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A number of hedge funds have recently bought and sold shares of ZLAB. Capital World Investors grew its position in shares of 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 in the last quarter. Janus Henderson Group PLC raised its holdings in Zai Lab by 9.6% in the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock valued at $70,924,000 after acquiring an additional 387,729 shares in the last quarter. Bamco Inc. NY lifted its position in Zai Lab by 7.3% during the first 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. M&G Plc bought a new stake in shares of Zai Lab during the 1st quarter worth approximately $7,266,000. Finally, Russell Investments Group Ltd. lifted its stake in Zai Lab by 51.1% during the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after purchasing an additional 99,355 shares during the last quarter. 41.65% of the stock is owned by institutional investors.

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.