Zai Lab Limited (NASDAQ:ZLAB – Get Rating)’s stock price gapped down prior to trading on Friday after Citigroup lowered their price target on the stock from $138.00 to $130.00. The stock had previously closed at $36.68, but opened at $35.39. Zai Lab shares last traded at $34.97, with a volume of 45,086 shares trading hands.
Separately, JPMorgan Chase & Co. cut their price target on Zai Lab from $79.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, March 16th.
Insider Activity
In related news, Director William Lis sold 5,434 shares of Zai Lab stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $38.31, for a total value of $208,176.54. Following the transaction, the director now owns 23,330 shares in the company, valued at $893,772.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Frazor Titus Edmondson III sold 7,965 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $40.55, for a total transaction of $322,980.75. Following the transaction, the insider now directly owns 19,400 shares of the company’s stock, valued at approximately $786,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Lis sold 5,434 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $38.31, for a total transaction of $208,176.54. Following the completion of the sale, the director now directly owns 23,330 shares of the company’s stock, valued at approximately $893,772.30. The disclosure for this sale can be found here. Insiders sold 24,879 shares of company stock valued at $990,357 in the last ninety days. Company insiders own 6.26% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in ZLAB. Bank of Montreal Can lifted its holdings in Zai Lab by 1,601.4% in the 3rd quarter. Bank of Montreal Can now owns 236,500 shares of the company’s stock worth $11,705,000 after buying an additional 222,600 shares in the last quarter. Profund Advisors LLC increased its holdings in Zai Lab by 8.4% during the 3rd quarter. Profund Advisors LLC now owns 14,596 shares of the company’s stock worth $499,000 after purchasing an additional 1,126 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Zai Lab in the 3rd quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale grew its position in shares of Zai Lab by 2.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 30,353 shares of the company’s stock worth $1,011,000 after buying an additional 803 shares in the last quarter. Finally, Bellevue Group AG acquired a new stake in Zai Lab in the third quarter valued at $1,278,000. 59.46% of the stock is owned by institutional investors and hedge funds.
Zai Lab Stock Performance
The company’s fifty day simple moving average is $34.92 and its two-hundred day simple moving average is $35.53. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -7.92 and a beta of 1.16.
Zai Lab (NASDAQ:ZLAB – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.39. Zai Lab had a negative return on equity of 37.96% and a negative net margin of 206.14%. The firm had revenue of $62.60 million during the quarter, compared to analyst estimates of $62.79 million. Sell-side analysts anticipate that Zai Lab Limited will post -3.76 EPS for the current year.
Zai Lab Company Profile
Zai Lab Ltd. is a biopharmaceutical company, which engages in the developing and commercializing therapies that address medical conditions with unmet needs in oncology, autoimmune disorders, infectious diseases, and neuroscience. Its products include Zejula, Optune, Qinlock, and Nuzyra. The company was founded by Samantha Ying Du and Marietta Wu in April 2014 and is headquartered in Shanghai, China.