Zai Lab (NASDAQ:ZLAB) Shares Gap Up – Time to Buy?

Zai Lab Limited (NASDAQ:ZLAB) shares gapped up before the market opened on Tuesday . The stock had previously closed at $32.95, but opened at $35.08. Zai Lab shares last traded at $34.21, with a volume of 207,702 shares.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald upgraded shares of Zai Lab to a “strong-buy” rating in a research report on Wednesday, February 5th.

Zai Lab Price Performance

The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -12.20 and a beta of 1.02. The firm has a fifty day moving average of $27.03 and a 200 day moving average of $25.44.

Insider Buying and Selling at Zai Lab

In other news, insider Rafael Amado sold 7,583 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the sale, the insider now owns 33,834 shares of the company’s stock, valued at $889,157.52. This represents a 18.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 13.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ZLAB. DekaBank Deutsche Girozentrale raised its position in Zai Lab by 22.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 36,648 shares of the company’s stock valued at $899,000 after purchasing an additional 6,648 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Zai Lab by 58.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after purchasing an additional 3,514 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Zai Lab by 26.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock valued at $14,584,000 after buying an additional 125,532 shares during the period. Algert Global LLC acquired a new position in Zai Lab in the third quarter valued at about $1,666,000. Finally, Daiwa Securities Group Inc. boosted its stake in Zai Lab by 4,851.8% during the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after buying an additional 9,364 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.