Zai Lab Limited (NASDAQ:ZLAB) Short Interest Up 27.4% in January

Zai Lab Limited (NASDAQ:ZLAB) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 7,710,000 shares, a growth of 27.4% from the January 15th total of 6,050,000 shares. Based on an average trading volume of 807,800 shares, the short-interest ratio is presently 9.5 days.

Analysts Set New Price Targets

A number of brokerages have recently commented on ZLAB. Cantor Fitzgerald upgraded Zai Lab to a “strong-buy” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. increased their price objective on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, October 21st.

Zai Lab Stock Up 3.0 %

ZLAB opened at $28.82 on Friday. The stock has a fifty day moving average of $26.48 and a 200-day moving average of $24.68. The firm has a market capitalization of $3.15 billion, a P/E ratio of -10.40 and a beta of 1.02. Zai Lab has a 12-month low of $13.48 and a 12-month high of $36.60.

Insider Activity

In other news, insider Rafael Amado sold 7,583 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the completion of the sale, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. This represents a 18.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.88% of the company’s stock.

Institutional Trading of Zai Lab

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in shares of Zai Lab by 34.2% in the third quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock valued at $211,488,000 after purchasing an additional 2,232,507 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Zai Lab by 18.4% in the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after purchasing an additional 1,312,115 shares in the last quarter. FMR LLC increased its stake in shares of Zai Lab by 749.1% in the fourth quarter. FMR LLC now owns 5,475,505 shares of the company’s stock worth $143,403,000 after acquiring an additional 4,830,646 shares during the last quarter. Bamco Inc. NY increased its stake in shares of Zai Lab by 6.4% in the third quarter. Bamco Inc. NY now owns 1,906,520 shares of the company’s stock worth $46,023,000 after acquiring an additional 113,869 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Zai Lab by 113.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company’s stock worth $48,788,000 after acquiring an additional 989,664 shares during 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.