Zai Lab (NASDAQ:ZLAB) Upgraded at Cantor Fitzgerald

Zai Lab (NASDAQ:ZLAB) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st.

Zai Lab Stock Performance

Shares of ZLAB stock opened at $26.93 on Wednesday. The stock has a market cap of $2.95 billion, a PE ratio of -9.72 and a beta of 1.02. Zai Lab has a 1 year low of $13.48 and a 1 year high of $36.60. The stock has a fifty day moving average price of $26.62 and a 200 day moving average price of $24.38.

Insider Buying and Selling at Zai Lab

In other news, insider Rafael Amado sold 7,583 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the transaction, the insider now directly owns 33,834 shares of the company’s stock, valued at $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new position in shares of Zai Lab in the second quarter valued at approximately $270,000. Renaissance Technologies LLC raised its holdings in Zai Lab by 91.9% in the 2nd quarter. Renaissance Technologies LLC now owns 28,214 shares of the company’s stock valued at $489,000 after acquiring an additional 13,514 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Zai Lab by 18.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,224 shares of the company’s stock worth $2,031,000 after purchasing an additional 18,654 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Zai Lab by 14.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 142,189 shares of the company’s stock worth $3,432,000 after purchasing an additional 18,093 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Zai Lab by 22.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 36,648 shares of the company’s stock valued at $899,000 after purchasing an additional 6,648 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

About Zai Lab

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.