Zai Lab (NASDAQ:ZLAB) Sets New 12-Month Low at $15.53

Zai Lab Limited (NASDAQ:ZLAB) hit a new 52-week low on Wednesday . The company traded as low as $15.53 and last traded at $15.62, with a volume of 59184 shares trading hands. The stock had previously closed at $16.04.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup dropped their price objective on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Morgan Stanley initiated coverage on Zai Lab in a research note on Thursday, December 14th. They issued an “overweight” rating and a $47.50 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Zai Lab presently has a consensus rating of “Buy” and an average price target of $64.22.

Zai Lab Trading Down 0.7 %

The company has a 50-day moving average price of $19.58 and a 200-day moving average price of $23.73.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.11). Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The business had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million. Equities research analysts predict that Zai Lab Limited will post -3.1 earnings per share for the current year.

Insider Activity

In other news, insider Rafael Amado sold 2,544 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the completion of the sale, the insider now directly owns 20,093 shares of the company’s stock, valued at approximately $378,953.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.23% of the company’s stock.

Institutional Trading of Zai Lab

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Zai Lab by 13.9% during the 1st quarter. Invesco Ltd. now owns 8,258,118 shares of the company’s stock worth $363,192,000 after buying an additional 1,006,575 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Zai Lab by 177.6% in the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock worth $145,845,000 after acquiring an additional 3,413,829 shares during the period. BlackRock Inc. grew its holdings in Zai Lab by 1.9% during the 1st quarter. BlackRock Inc. now owns 4,381,747 shares of the company’s stock valued at $145,737,000 after buying an additional 80,310 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Zai Lab by 54.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,553,080 shares of the company’s stock worth $121,515,000 after purchasing an additional 1,258,009 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Zai Lab by 62.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,409,373 shares of the company’s stock worth $80,136,000 after purchasing an additional 923,108 shares during the period. 41.65% of the stock is owned by hedge funds and other institutional investors.

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.