Zai Lab (NASDAQ:ZLAB) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Zai Lab Limited (NASDAQ:ZLAB) saw unusually-strong trading volume on Friday . Approximately 759,618 shares traded hands during trading, an increase of 12% from the previous session’s volume of 678,831 shares.The stock last traded at $28.38 and had previously closed at $26.67.

Analyst Ratings Changes

A number of equities analysts recently commented on ZLAB shares. JPMorgan Chase & Co. boosted their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th.

Zai Lab Trading Up 1.5 %

The stock has a market cap of $2.70 billion, a PE ratio of -9.77 and a beta of 1.04. The business’s 50-day moving average price is $26.06 and its 200-day moving average price is $21.10.

Hedge Funds Weigh In On Zai Lab

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after purchasing an additional 904 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Zai Lab during the 3rd quarter valued at about $225,000. Daiwa Securities Group Inc. raised its stake in Zai Lab by 4,851.8% in the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock valued at $231,000 after buying an additional 9,364 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Zai Lab by 58.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after acquiring an additional 3,514 shares in the last quarter. Finally, RBF Capital LLC acquired a new stake in Zai Lab in the third quarter worth about $241,000. 41.65% of the stock is owned by hedge funds and other 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.