Zai Lab (NASDAQ:ZLAB) Shares Up 5.3%

Shares of Zai Lab Limited (NASDAQ:ZLAB) shot up 5.3% on Wednesday . The stock traded as high as $16.12 and last traded at $15.92. 95,132 shares changed hands during trading, a decline of 85% from the average session volume of 627,789 shares. The stock had previously closed at $15.12.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZLAB. Citigroup decreased their target price on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zai Lab currently has a consensus rating of “Buy” and a consensus target price of $64.22.

Zai Lab Stock Up 2.5 %

The company has a market cap of $1.54 billion, a price-to-earnings ratio of -4.61 and a beta of 1.10. The firm has a 50-day simple moving average of $17.70 and a 200 day simple moving average of $22.73.

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

Insider Activity

In other news, insider Rafael Amado sold 2,544 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the transaction, the insider now owns 20,093 shares of the company’s stock, valued at $378,953.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Rafael Amado sold 2,544 shares of Zai Lab stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the sale, the insider now directly owns 20,093 shares in the company, valued at $378,953.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ying Du sold 5,787 shares of Zai Lab stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the completion of the sale, the chief executive officer now owns 1,107,972 shares in the company, valued at $17,893,747.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,568 shares of company stock valued at $208,508. Company insiders own 5.23% of the company’s stock.

Institutional Trading of Zai Lab

A number of institutional investors have recently modified their holdings of the business. Vivo Capital LLC boosted its stake in shares of Zai Lab by 29.0% in the first quarter. Vivo Capital LLC now owns 531,198 shares of the company’s stock valued at $8,510,000 after buying an additional 119,521 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Zai Lab by 35.8% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 63,169 shares of the company’s stock worth $1,012,000 after purchasing an additional 16,659 shares in the last quarter. Wellington Management Group LLP boosted 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 worth $145,845,000 after purchasing an additional 3,413,829 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in Zai Lab during the fourth quarter worth $547,000. Finally, Bellevue Group AG purchased a new stake in Zai Lab during the fourth quarter worth $3,714,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

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.