Zai Lab (NASDAQ:ZLAB) Reaches New 12-Month Low at $15.13

Zai Lab Limited (NASDAQ:ZLAB) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $15.13 and last traded at $15.22, with a volume of 240255 shares changing hands. The stock had previously closed at $16.02.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citigroup decreased 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. Morgan Stanley assumed coverage on shares of Zai Lab in a report on Thursday, December 14th. They issued an “overweight” rating and a $47.50 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Friday, January 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $64.22.

Zai Lab Stock Down 2.5 %

The business’s 50-day moving average price is $18.60 and its 200-day moving average price is $23.29.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly 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 company had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million. As a group, research analysts anticipate that Zai Lab Limited will post -3.1 EPS for the current fiscal 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 that occurred on Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now owns 20,093 shares in the company, valued at $378,953.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Rafael Amado sold 2,544 shares of the stock in a transaction that occurred on 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 $378,953.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joshua L. Smiley sold 1,988 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were 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 directly owns 28,684 shares of the company’s stock, valued at $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 over the last 90 days. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Several hedge funds have recently modified their holdings of ZLAB. Ensign Peak Advisors Inc lifted its position in Zai Lab by 7.3% in the third quarter. Ensign Peak Advisors Inc now owns 5,850 shares of the company’s stock worth $200,000 after purchasing an additional 400 shares during the period. Aviva PLC lifted its holdings in shares of Zai Lab by 1.1% during the first quarter. Aviva PLC now owns 35,870 shares of the company’s stock valued at $1,578,000 after acquiring an additional 400 shares during the period. National Pension Service lifted its holdings in shares of Zai Lab by 2.4% during the third quarter. National Pension Service now owns 18,356 shares of the company’s stock valued at $644,000 after acquiring an additional 423 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Zai Lab by 5.2% during the fourth quarter. Voya Investment Management LLC now owns 9,013 shares of the company’s stock valued at $277,000 after acquiring an additional 443 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Zai Lab by 45.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock valued at $48,000 after acquiring an additional 548 shares during the period. 41.65% of the stock is owned by 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.