Zai Lab (NASDAQ:ZLAB) Sets New 52-Week Low – Here’s What Happened

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)’s share price hit a new 52-week low on Monday . The company traded as low as $21.08 and last traded at $21.1550, with a volume of 61772 shares changing hands. The stock had previously closed at $21.75.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of several research analyst reports. Citigroup restated a “buy” rating and set a $69.00 price target (up from $66.00) on shares of Zai Lab in a research note on Monday, August 11th. Jefferies Financial Group initiated coverage on Zai Lab in a report on Monday, August 25th. They set a “buy” rating and a $52.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.35.

Zai Lab Price Performance

The company has a market cap of $2.29 billion, a PE ratio of -10.04 and a beta of 1.07. The company has a 50-day moving average price of $28.78 and a two-hundred day moving average price of $32.51.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $116.10 million during the quarter, compared to analyst estimates of $150.24 million. Zai Lab had a negative net margin of 49.68% and a negative return on equity of 27.32%. Zai Lab has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In other Zai Lab news, insider Joshua L. Smiley purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were acquired at an average price of $28.91 per share, for a total transaction of $289,100.00. Following the completion of the purchase, the insider owned 86,604 shares in the company, valued at $2,503,721.64. The trade was a 13.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zai Lab

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in shares of Zai Lab in the 1st quarter valued at approximately $297,000. Envestnet Asset Management Inc. raised its holdings in Zai Lab by 379.4% in the first quarter. Envestnet Asset Management Inc. now owns 178,714 shares of the company’s stock valued at $6,459,000 after acquiring an additional 141,436 shares in the last quarter. Cerity Partners LLC acquired a new stake in Zai Lab in the first quarter valued at $420,000. Kingsview Wealth Management LLC boosted its stake in Zai Lab by 6.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 9,323 shares of the company’s stock valued at $337,000 after acquiring an additional 529 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Zai Lab by 25.1% during the 1st quarter. Allianz Asset Management GmbH now owns 1,884,411 shares of the company’s stock worth $68,103,000 after acquiring an additional 378,545 shares in the last quarter. 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.