Zai Lab Ltd (NASDAQ:ZLAB) reached a new 52-week high during trading on Tuesday . The stock traded as high as $40.45 and last traded at $40.40, with a volume of 3064 shares traded. The stock had previously closed at $39.88.

ZLAB has been the topic of a number of analyst reports. China Renaissance Securities initiated coverage on shares of Zai Lab in a research report on Wednesday, September 4th. They set a “buy” rating on the stock. BidaskClub raised shares of Zai Lab from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Leerink Swann set a $48.00 price target on shares of Zai Lab and gave the company a “buy” rating in a report on Wednesday, September 4th. Zacks Investment Research raised shares of Zai Lab from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, ValuEngine downgraded shares of Zai Lab from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.87.

The company has a 50-day simple moving average of $36.16 and a 200 day simple moving average of $33.51. The company has a market cap of $2.31 billion, a P/E ratio of -15.32 and a beta of 1.40.

Several large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its stake in Zai Lab by 4,786.1% in the 2nd quarter. Baillie Gifford & Co. now owns 2,086,383 shares of the company’s stock worth $72,752,000 after buying an additional 2,043,683 shares during the period. Morgan Stanley increased its position in shares of Zai Lab by 94.5% during the second quarter. Morgan Stanley now owns 23,488 shares of the company’s stock worth $819,000 after acquiring an additional 11,415 shares during the period. Vanguard Group Inc. raised its stake in shares of Zai Lab by 17.3% during the second quarter. Vanguard Group Inc. now owns 1,141,587 shares of the company’s stock valued at $39,807,000 after acquiring an additional 168,643 shares in the last quarter. Matthews International Capital Management LLC raised its stake in shares of Zai Lab by 34.7% during the third quarter. Matthews International Capital Management LLC now owns 81,600 shares of the company’s stock valued at $2,640,000 after acquiring an additional 21,000 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new stake in shares of Zai Lab in the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 63.36% of the company’s stock.

Zai Lab Company Profile (NASDAQ:ZLAB)

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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