Zai Lab (NASDAQ:ZLAB) Trading 3.8% Higher – Here’s What Happened

Zai Lab Limited (NASDAQ:ZLAB)’s stock price shot up 3.8% during trading on Tuesday . The stock traded as high as $33.85 and last traded at $32.94. 306,196 shares were traded during trading, a decline of 65% from the average session volume of 871,369 shares. The stock had previously closed at $31.73.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of a number of research reports. Bank of America reaffirmed a “neutral” rating and set a $36.10 price target (up from $29.00) on shares of Zai Lab in a research note on Monday. Cantor Fitzgerald raised Zai Lab to a “strong-buy” rating in a research note on Wednesday, February 5th.

Zai Lab Stock Performance

The firm has a market capitalization of $3.72 billion, a P/E ratio of -12.24 and a beta of 1.02. The firm has a 50 day moving average price of $27.77 and a two-hundred day moving average price of $26.06.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). The company had revenue of $109.07 million during the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. Equities research analysts forecast that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

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 shares were sold at an average price of $26.28, for a total transaction of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares in the company, valued at approximately $889,157.52. The trade was a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.88% of the stock is owned by company insiders.

Institutional Trading of Zai Lab

Hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new position in Zai Lab during the fourth quarter valued at $29,000. Pictet Asset Management Holding SA acquired a new position in shares of Zai Lab in the 4th quarter valued at about $31,000. Barclays PLC lifted its position in shares of Zai Lab by 337.6% in the fourth quarter. Barclays PLC now owns 3,702 shares of the company’s stock worth $97,000 after purchasing an additional 2,856 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company’s stock worth $154,000 after purchasing an additional 5,534 shares during the period. Finally, Jasper Ridge Partners L.P. acquired a new stake in shares of Zai Lab during the fourth quarter worth approximately $210,000. Hedge funds and other institutional investors 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.