Cantor Fitzgerald Upgrades Zai Lab (NASDAQ:ZLAB) to Strong-Buy

Zai Lab (NASDAQ:ZLAB) was upgraded by Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Separately, JPMorgan Chase & Co. boosted their price target on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 21st.

Zai Lab Stock Performance

Shares of ZLAB stock opened at $26.93 on Wednesday. The company has a 50 day moving average price of $26.62 and a 200 day moving average price of $24.38. The stock has a market capitalization of $2.95 billion, a P/E ratio of -9.72 and a beta of 1.02. Zai Lab has a fifty-two week low of $13.48 and a fifty-two week high of $36.60.

Insider Activity

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares in the company, valued at approximately $889,157.52. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 13.88% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock valued at $154,000 after purchasing an additional 5,534 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Zai Lab by 188.6% in the fourth quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company’s stock valued at $39,442,000 after buying an additional 984,041 shares in the last quarter. Alberta Investment Management Corp grew its holdings in Zai Lab by 42.9% during the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company’s stock worth $6,084,000 after acquiring an additional 69,740 shares during the period. Principal Financial Group Inc. purchased a new position in Zai Lab in the fourth quarter worth $46,172,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Zai Lab by 15.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock valued at $290,000 after acquiring an additional 1,502 shares during the period. 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.