Zai Lab (NASDAQ:ZLAB) Shares Gap Up – Here’s Why

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

Zai Lab Price Performance

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

Insider Buying and Selling at Zai Lab

In other news, insider Rafael Amado sold 10,787 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total value of $188,017.41. Following the completion of the transaction, the insider directly owned 52,391 shares in the company, valued at $913,175.13. This trade represents a 17.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC raised its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,396 shares of the company’s stock after acquiring an additional 642 shares during the period. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Company Profile

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.