Zai Lab (NASDAQ:ZLAB) Trading Up 11.1%

Zai Lab Limited (NASDAQ:ZLAB – Get Rating)’s stock price was up 11.1% during mid-day trading on Tuesday . The stock traded as high as $31.37 and last traded at $30.80. Approximately 11,917 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 787,826 shares. The stock had previously closed at $27.73.

Several equities research analysts recently issued reports on ZLAB shares. Citigroup cut their target price on shares of Zai Lab from $198.00 to $193.00 in a research note on Thursday, May 12th. SVB Leerink cut their price objective on shares of Zai Lab from $102.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Zai Lab from $136.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, April 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Zai Lab presently has an average rating of “Buy” and an average target price of $117.50.

The company’s fifty day moving average price is $33.96 and its 200 day moving average price is $45.70. The company has a market capitalization of $2.97 billion, a P/E ratio of -5.25 and a beta of 1.22.

Several institutional investors and hedge funds have recently made changes to their positions in ZLAB. HighTower Advisors LLC bought a new position in shares of Zai Lab during the third quarter worth approximately $203,000. Franklin Resources Inc. increased its stake in Zai Lab by 44.4% in the third quarter. Franklin Resources Inc. now owns 10,518 shares of the company’s stock valued at $1,109,000 after acquiring an additional 3,235 shares during the last quarter. Morgan Stanley increased its stake in Zai Lab by 39.1% in the third quarter. Morgan Stanley now owns 159,328 shares of the company’s stock valued at $16,792,000 after acquiring an additional 44,779 shares during the last quarter. Guggenheim Capital LLC increased its stake in Zai Lab by 23.6% in the third quarter. Guggenheim Capital LLC now owns 21,071 shares of the company’s stock valued at $2,221,000 after acquiring an additional 4,025 shares during the last quarter. Finally, Tudor Investment Corp Et Al bought a new position in Zai Lab in the third quarter valued at approximately $1,497,000. 72.65% of the stock is currently owned by institutional investors.

About Zai Lab (NASDAQ:ZLAB)

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. The company's 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.

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