Zai Lab Limited (NASDAQ:ZLAB – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $20.99, but opened at $22.74. Zai Lab shares last traded at $22.30, with a volume of 112,900 shares traded.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on ZLAB. Morgan Stanley began coverage on Zai Lab in a research report on Thursday, December 14th. They set an “overweight” rating and a $47.50 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Finally, JPMorgan Chase & Co. upped their price objective on Zai Lab from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, November 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $74.56.
Zai Lab Stock Up 7.9 %
The business has a fifty day moving average of $23.36 and a 200 day moving average of $24.98. The firm has a market cap of $2.24 billion, a P/E ratio of -7.17 and a beta of 1.16.
Insider Activity at Zai Lab
In other Zai Lab news, insider Rafael Amado sold 19,363 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $26.30, for a total value of $509,246.90. Following the completion of the transaction, the insider now directly owns 22,637 shares of the company’s stock, valued at $595,353.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Rafael Amado sold 19,363 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $26.30, for a total transaction of $509,246.90. Following the completion of the transaction, the insider now directly owns 22,637 shares of the company’s stock, valued at $595,353.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joshua L. Smiley acquired 4,000 shares of Zai Lab stock in a transaction dated Thursday, December 14th. The shares were purchased at an average cost of $29.90 per share, with a total value of $119,600.00. Following the completion of the transaction, the insider now directly owns 20,527 shares of the company’s stock, valued at $613,757.30. The disclosure for this purchase can be found here. 5.23% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. 1832 Asset Management L.P. acquired a new position in Zai Lab during the fourth quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. boosted its position in Zai Lab by 68.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after purchasing an additional 557 shares during the last quarter. BNP Paribas Financial Markets boosted its position in 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 purchasing an additional 548 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Zai Lab by 58.5% during the third 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 last quarter. Finally, Tower Research Capital LLC TRC boosted its position in 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 valued at $70,000 after purchasing an additional 2,424 shares during the last quarter. 43.65% of the stock is owned by institutional investors and hedge funds.
About Zai Lab
Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. Its commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.