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

Zai Lab Limited (NASDAQ:ZLAB) shares gapped down before the market opened on Tuesday . The stock had previously closed at $31.52, but opened at $30.74. Zai Lab shares last traded at $30.73, with a volume of 182,986 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank started coverage on Zai Lab in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company. Bank of America reissued a “neutral” rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th.

Zai Lab Price Performance

The business has a 50 day simple moving average of $32.83 and a 200-day simple moving average of $29.17. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -11.01 and a beta of 1.09.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The business had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. As a group, equities analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current year.

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.44, for a total value of $1,622,000.00. Following the sale, the chief executive officer now owns 494,117 shares in the company, valued at approximately $16,029,155.48. The trade was a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $38.41, for a total transaction of $115,230.00. Following the completion of the sale, the insider now owns 30,834 shares in the company, valued at $1,184,333.94. This trade represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,744 shares of company stock valued at $4,685,294. Company insiders own 13.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Large investors have recently modified their holdings of the business. GF Fund Management CO. LTD. bought a new stake in Zai Lab during the fourth quarter worth about $29,000. Pictet Asset Management Holding SA acquired a new position in shares of Zai Lab during the 4th quarter worth approximately $31,000. Barclays PLC raised its stake in shares of Zai Lab by 337.6% during the 4th 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% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock valued at $154,000 after buying an additional 5,534 shares during the last quarter. Finally, Jasper Ridge Partners L.P. bought a new position in shares of Zai Lab in the fourth quarter valued at $210,000. 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.