Zai Lab (NASDAQ:ZLAB) Shares Gap Up to $15.90

Zai Lab Limited (NASDAQ:ZLAB) gapped up prior to trading on Thursday . The stock had previously closed at $15.90, but opened at $17.25. Zai Lab shares last traded at $16.77, with a volume of 146,103 shares.

Analysts Set New Price Targets

Several analysts have weighed in on ZLAB shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Friday, January 12th. Citigroup dropped their target price on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $64.22.

Zai Lab Trading Up 4.2 %

The firm has a 50-day moving average price of $17.21 and a 200 day moving average price of $22.39.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. The business had revenue of $65.83 million for the quarter, compared to the consensus estimate of $70.41 million. On average, sell-side analysts anticipate that Zai Lab Limited will post -3.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the sale, the insider now owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the sale, the insider now owns 20,093 shares of the company’s stock, valued at approximately $378,953.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the transaction, the insider now owns 28,684 shares in the company, valued at approximately $449,478.28. The disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock worth $208,508 in the last 90 days. 5.23% of the stock is owned by company insiders.

Institutional Trading of Zai Lab

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Zai Lab by 7.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,627 shares of the company’s stock valued at $2,957,000 after buying an additional 8,590 shares during the period. TD Asset Management Inc boosted its position in Zai Lab by 114.6% during the 3rd quarter. TD Asset Management Inc now owns 216,970 shares of the company’s stock valued at $5,275,000 after acquiring an additional 115,885 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Zai Lab by 89.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 22,355 shares of the company’s stock worth $543,000 after acquiring an additional 10,561 shares during the period. Long Corridor Asset Management Ltd raised its position in shares of Zai Lab by 93.8% in the 3rd quarter. Long Corridor Asset Management Ltd now owns 31,000 shares of the company’s stock worth $754,000 after acquiring an additional 15,000 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Zai Lab by 68.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after purchasing an additional 557 shares during the period. Hedge funds and other institutional investors own 41.65% of the company’s stock.

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.