Zai Lab (NASDAQ:ZLAB) Shares Gap Up to $15.49

Zai Lab Limited (NASDAQ:ZLAB)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $15.49, but opened at $15.94. Zai Lab shares last traded at $15.89, with a volume of 108,592 shares traded.

Analysts Set New Price Targets

Several equities analysts have commented on ZLAB shares. Morgan Stanley assumed coverage on shares of Zai Lab in a research report on Thursday, December 14th. They set an “overweight” rating and a $47.50 target price on the stock. Citigroup reduced their price objective on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Friday, January 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $64.22.

Zai Lab Price Performance

The stock’s 50 day moving average is $19.00 and its two-hundred day moving average is $23.46.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $65.83 million during the quarter, compared to analyst estimates of $70.41 million. On average, equities analysts expect that Zai Lab Limited will post -3.1 EPS for the current year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the 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 transaction, the insider now owns 20,093 shares of the company’s stock, valued at $378,953.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Ying Du sold 5,787 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total transaction of $93,460.05. Following the sale, the chief executive officer now owns 1,107,972 shares of the company’s stock, valued at $17,893,747.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rafael Amado sold 2,544 shares of Zai Lab stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the transaction, the insider now owns 20,093 shares in the company, valued at approximately $378,953.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,568 shares of company stock valued at $208,508. 5.23% of the stock is currently owned by company insiders.

Institutional Trading of Zai Lab

Hedge funds have recently bought and sold shares of the stock. 1832 Asset Management L.P. bought a new stake in shares of Zai Lab during the fourth quarter worth $28,000. China Universal Asset Management Co. Ltd. increased its holdings in Zai Lab by 68.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock worth $33,000 after purchasing an additional 557 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after purchasing an additional 700 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Zai Lab by 45.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock valued at $48,000 after purchasing an additional 548 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Zai Lab by 1,923.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock worth $70,000 after buying an additional 2,424 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Company Profile

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.