Zai Lab (NASDAQ:ZLAB) Shares Down 2.4%

Zai Lab Limited (NASDAQ:ZLAB) shares dropped 2.4% on Wednesday . The company traded as low as $14.04 and last traded at $14.07. Approximately 11,979 shares traded hands during trading, a decline of 98% from the average daily volume of 635,869 shares. The stock had previously closed at $14.42.

Analyst Ratings Changes

ZLAB has been the topic of a number of research analyst reports. Citigroup dropped their price objective on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Friday, January 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $64.22.

Zai Lab Trading Down 3.5 %

The firm’s 50-day moving average is $18.28 and its two-hundred day moving average is $23.12. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -4.03 and a beta of 1.10.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share 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 company had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million. On average, analysts predict that Zai Lab Limited will post -3.1 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Zai Lab

A number of hedge funds have recently bought and sold shares of ZLAB. 1832 Asset Management L.P. purchased a new stake in shares of Zai Lab in the 4th quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. grew 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 buying an additional 557 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Zai Lab by 45.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock valued at $48,000 after buying an additional 548 shares during the period. PNC Financial Services Group Inc. grew 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 buying an additional 700 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Zai Lab by 1,923.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after buying an additional 2,424 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.