Zai Lab (NASDAQ:ZLAB) Shares Gap Up – Should You Buy?

Zai Lab Limited (NASDAQ:ZLAB)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $24.79, but opened at $25.55. Zai Lab shares last traded at $25.68, with a volume of 32,536 shares changing hands.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $56.21.

Zai Lab Trading Up 5.8 %

The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -8.53 and a beta of 1.08. The company has a 50 day moving average of $20.68 and a 200 day moving average of $18.79.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) 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 firm had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. Equities analysts forecast that Zai Lab Limited will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In related news, insider Joshua L. Smiley sold 4,352 shares of the business’s 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 directly owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors raised its position in shares of Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after buying an additional 465,337 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Zai Lab by 177.6% in the 4th 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 during the period. Janus Henderson Group PLC grew its holdings in Zai Lab by 9.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock worth $70,924,000 after acquiring an additional 387,729 shares during the period. Bamco Inc. NY boosted its position in shares of Zai Lab by 7.3% during the 1st quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock valued at $25,630,000 after purchasing an additional 108,991 shares in the last quarter. Finally, M&G Plc bought a new stake in Zai Lab in the first quarter worth approximately $7,266,000. Institutional investors 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.