Zai Lab (NASDAQ:ZLAB) Shares Gap Up to $14.07

Zai Lab Limited (NASDAQ:ZLAB)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $14.07, but opened at $14.73. Zai Lab shares last traded at $14.91, with a volume of 155,613 shares traded.

Analyst Ratings Changes

Several research analysts recently weighed in on ZLAB shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup decreased their target price on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $64.22.

Zai Lab Trading Up 0.9 %

The firm has a fifty day moving average price of $17.70 and a 200 day moving average price of $22.73.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.11). Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. The company had revenue of $65.83 million for the quarter, compared to analysts’ expectations of $70.41 million. As a group, sell-side analysts anticipate that Zai Lab Limited will post -3.1 EPS for the current year.

Insider Activity

In other news, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction on Friday, March 15th. The stock was 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 directly owns 20,093 shares of the company’s stock, valued at $378,953.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Ying Du sold 5,787 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total value of $93,460.05. Following the completion of the sale, the chief executive officer now directly owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The sale was disclosed in a document filed 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 stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the completion of the sale, the insider now directly owns 20,093 shares of the company’s stock, valued at $378,953.98. The disclosure for this sale can be found here. Insiders sold a total of 12,568 shares of company stock valued at $208,508 over the last three months. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Several hedge funds have recently bought and sold shares of ZLAB. Wellington Management Group LLP lifted its stake in Zai Lab by 177.6% in the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock worth $145,845,000 after acquiring an additional 3,413,829 shares in the last quarter. Brilliance Asset Management Ltd. increased its position in Zai Lab by 177.5% in the 4th quarter. Brilliance Asset Management Ltd. now owns 435,926 shares of the company’s stock worth $11,914,000 after purchasing an additional 278,841 shares during the last quarter. Hsbc Holdings PLC increased its position in Zai Lab by 251.1% in the 3rd quarter. Hsbc Holdings PLC now owns 327,781 shares of the company’s stock worth $7,968,000 after purchasing an additional 234,431 shares during the last quarter. UBS Group AG increased its position in Zai Lab by 312.4% in the 3rd quarter. UBS Group AG now owns 288,981 shares of the company’s stock worth $7,025,000 after purchasing an additional 218,907 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Zai Lab by 26.1% in the 4th quarter. Allianz Asset Management GmbH now owns 679,524 shares of the company’s stock worth $18,571,000 after purchasing an additional 140,461 shares during the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

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.