Zai Lab (NASDAQ:ZLAB) Shares Gap Up – What’s Next?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) gapped up before the market opened on Friday . The stock had previously closed at $18.77, but opened at $19.74. Zai Lab shares last traded at $20.1590, with a volume of 164,001 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. JPMorgan Chase & Co. decreased their price target on Zai Lab from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. UBS Group started coverage on shares of Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. Finally, Zacks Research downgraded shares of Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Zai Lab currently has a consensus rating of “Moderate Buy” and an average price target of $51.59.

Zai Lab Stock Performance

The stock has a market capitalization of $2.24 billion, a PE ratio of -10.26 and a beta of 0.88. The stock’s 50 day moving average is $18.05 and its two-hundred day moving average is $25.66.

Insider Transactions at Zai Lab

In other news, insider Rafael Amado sold 10,787 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total transaction of $188,017.41. Following the completion of the sale, the insider owned 52,391 shares of the company’s stock, valued at $913,175.13. This represents a 17.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently bought a new position in Zai Lab stock. SG Americas Securities LLC acquired a new stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 9,754 shares of the company’s stock, valued at approximately $331,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

About Zai Lab

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.