Zai Lab (NASDAQ:ZLAB) Stock Price Down 2.4%

Zai Lab Limited (NASDAQ:ZLAB)’s stock price was down 2.4% on Wednesday . The company traded as low as $14.04 and last traded at $14.07. Approximately 11,979 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 635,869 shares. The stock had previously closed at $14.42.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ZLAB shares. Citigroup cut their price objective on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $64.22.

Zai Lab Stock Up 3.6 %

The firm’s 50-day moving average price is $18.02 and its 200-day moving average price is $22.99.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.11). Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The business had revenue of $65.83 million during the quarter, compared to analyst estimates of $70.41 million. Research analysts forecast that Zai Lab Limited will post -3.1 EPS for the current fiscal year.

Insider Activity

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the transaction, the insider now directly owns 28,684 shares in the company, valued at approximately $449,478.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joshua L. Smiley sold 1,988 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the transaction, the insider now directly owns 28,684 shares in the company, valued at approximately $449,478.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rafael Amado sold 2,544 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the sale, the insider now directly owns 20,093 shares in the company, valued at approximately $378,953.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,568 shares of company stock worth $208,508. 5.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zai Lab

Large investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Zai Lab by 35.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 63,169 shares of the company’s stock worth $1,012,000 after buying an additional 16,659 shares during the period. Wellington Management Group LLP raised its position in Zai Lab by 177.6% during the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock valued at $145,845,000 after acquiring an additional 3,413,829 shares in the last quarter. GSA Capital Partners LLP bought a new position in Zai Lab during the fourth quarter valued at approximately $301,000. Legal & General Group Plc raised its position in Zai Lab by 20.1% during the fourth quarter. Legal & General Group Plc now owns 834,457 shares of the company’s stock valued at $22,818,000 after acquiring an additional 139,832 shares in the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in Zai Lab during the fourth quarter valued at approximately $547,000. 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.