Zai Lab (NASDAQ:ZLAB) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Zai Lab (NASDAQ:ZLAB) in a research note issued to investors on Friday, Benzinga reports.

Separately, 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 report on Monday, October 21st.

Zai Lab Trading Up 0.5 %

Shares of ZLAB opened at $32.54 on Friday. The firm’s 50-day moving average is $22.65 and its two-hundred day moving average is $19.53. Zai Lab has a twelve month low of $13.48 and a twelve month high of $36.60. The firm has a market capitalization of $3.24 billion, a P/E ratio of -9.32 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results 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). 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. Analysts predict that Zai Lab will post -2.96 EPS for the current year.

Insider Activity

In other news, insider Joshua L. Smiley sold 4,352 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the sale, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.23% of the company’s stock.

Institutional Trading of Zai Lab

A number of hedge funds have recently bought and sold shares of ZLAB. BNP Paribas Financial Markets boosted its position in Zai Lab by 51.2% during the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Zai Lab during the first quarter worth approximately $64,000. China Universal Asset Management Co. Ltd. raised its stake in Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after purchasing an additional 3,514 shares during the period. Swedbank AB purchased a new position in Zai Lab during the first quarter worth approximately $244,000. Finally, Dimensional Fund Advisors LP purchased a new position in Zai Lab during the second quarter worth approximately $270,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.