Zai Lab (NASDAQ:ZLAB) Shares Gap Up to $15.90

Shares of Zai Lab Limited (NASDAQ:ZLAB) gapped up before the market opened on Thursday . The stock had previously closed at $15.90, but opened at $17.25. Zai Lab shares last traded at $16.77, with a volume of 146,103 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on ZLAB. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup dropped their target price on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $64.22.

Zai Lab Stock Down 2.0 %

The company’s 50 day moving average price is $17.07 and its two-hundred day moving average price is $22.29.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). The business had revenue of $65.83 million for the quarter, compared to analysts’ expectations of $70.41 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. On average, research analysts expect that Zai Lab Limited will post -3.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the sale, the insider now owns 28,684 shares in the company, valued at $449,478.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Joshua L. Smiley sold 1,988 shares of Zai Lab stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the transaction, the insider now directly owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rafael Amado sold 2,544 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders have sold 12,568 shares of company stock valued at $208,508. 5.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in Zai Lab by 177.6% during the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock valued at $145,845,000 after acquiring an additional 3,413,829 shares during the period. Bamco Inc. NY raised its stake in Zai Lab by 4.5% during the 3rd quarter. Bamco Inc. NY now owns 1,579,349 shares of the company’s stock valued at $38,394,000 after purchasing an additional 67,288 shares during the period. Rock Springs Capital Management LP lifted its holdings in Zai Lab by 1.2% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,237,023 shares of the company’s stock worth $30,072,000 after purchasing an additional 14,600 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Zai Lab by 1.4% in the 3rd quarter. Clearbridge Investments LLC now owns 822,888 shares of the company’s stock worth $20,004,000 after purchasing an additional 11,574 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Zai Lab by 26.1% during the 4th quarter. Allianz Asset Management GmbH now owns 679,524 shares of the company’s stock valued at $18,571,000 after buying an additional 140,461 shares in the last quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

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.