Zai Lab (NASDAQ:ZLAB) Trading Down 6.1% – What’s Next?

Shares of Zai Lab Limited (NASDAQ:ZLAB) traded down 6.1% during mid-day trading on Wednesday . The company traded as low as $28.40 and last traded at $28.54. 224,576 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 831,453 shares. The stock had previously closed at $30.38.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ZLAB shares. Bank of America restated a “neutral” rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th. Scotiabank began coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, March 13th.

Zai Lab Stock Down 0.3 %

The company has a market cap of $3.16 billion, a price-to-earnings ratio of -10.41 and a beta of 1.09. The business’s fifty day simple moving average is $32.94 and its two-hundred day simple moving average is $29.21.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The company had revenue of $109.07 million for the quarter, compared to analyst estimates of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. Sell-side analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insider Activity at Zai Lab

In other news, insider Frazor Titus Edmondson III sold 14,544 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the transaction, the insider now owns 14,328 shares of the company’s stock, valued at approximately $472,537.44. The trade was a 50.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the sale, the chief executive officer now owns 494,117 shares of the company’s stock, valued at approximately $16,029,155.48. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,744 shares of company stock valued at $4,685,294 in the last three months. 13.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently added to or reduced their stakes in ZLAB. FMR LLC increased its stake in shares of Zai Lab by 749.1% during the 4th quarter. FMR LLC now owns 5,475,505 shares of the company’s stock worth $143,403,000 after purchasing an additional 4,830,646 shares in the last quarter. RTW Investments LP acquired a new position in shares of Zai Lab in the fourth quarter worth $65,714,000. Price T Rowe Associates Inc. MD lifted its position in shares of Zai Lab by 30.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company’s stock valued at $61,653,000 after acquiring an additional 548,378 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Zai Lab by 113.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company’s stock valued at $48,788,000 after acquiring an additional 989,664 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Zai Lab during the fourth quarter worth about $46,172,000. 41.65% of the stock is owned by institutional investors and hedge funds.

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.