Zai Lab Limited (NASDAQ:ZLAB) Stock Position Raised by AdvisorNet Financial Inc

AdvisorNet Financial Inc lifted its stake in shares of Zai Lab Limited (NASDAQ:ZLABGet Rating) by 100.0% in the 2nd quarter, reports. The fund owned 1,600 shares of the company’s stock after acquiring an additional 800 shares during the quarter. AdvisorNet Financial Inc’s holdings in Zai Lab were worth $55,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vontobel Holding Ltd. bought a new stake in shares of Zai Lab during the 1st quarter worth $210,000. Aigen Investment Management LP boosted its stake in shares of Zai Lab by 56.0% during the 1st quarter. Aigen Investment Management LP now owns 5,502 shares of the company’s stock worth $242,000 after acquiring an additional 1,974 shares in the last quarter. Virtus ETF Advisers LLC boosted its position in shares of Zai Lab by 120.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,933 shares of the company’s stock worth $373,000 after buying an additional 3,241 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Zai Lab in the first quarter worth $309,000. Finally, abrdn plc boosted its position in shares of Zai Lab by 7.6% in the fourth quarter. abrdn plc now owns 8,081 shares of the company’s stock worth $509,000 after buying an additional 574 shares during the period.

Zai Lab Stock Down 13.0 %

Shares of Zai Lab stock opened at $37.33 on Friday. The stock has a market cap of $3.65 billion, a PE ratio of -6.73 and a beta of 1.00. The business has a fifty day simple moving average of $44.36 and a 200-day simple moving average of $39.08. Zai Lab Limited has a 12 month low of $22.51 and a 12 month high of $123.34.

Zai Lab (NASDAQ:ZLABGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.49). Zai Lab had a negative return on equity of 38.53% and a negative net margin of 290.14%. The firm had revenue of $48.18 million for the quarter, compared to analysts’ expectations of $46.78 million. Analysts expect that Zai Lab Limited will post -4.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Citigroup raised their target price on Zai Lab to $199.00 in a research report on Monday, August 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $119.00.

Zai Lab Profile

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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.

See Also

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Institutional Ownership by Quarter for Zai Lab (NASDAQ:ZLAB)

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