Zai Lab (NASDAQ:ZLAB) Shares Up 10.3% – What’s Next?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)’s stock price rose 10.3% during trading on Monday . The stock traded as high as $20.32 and last traded at $20.5150. Approximately 204,580 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 756,187 shares. The stock had previously closed at $18.60.

Wall Street Analysts Forecast Growth

ZLAB has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Cantor Fitzgerald dropped their target price on Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Zacks Research lowered Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings raised Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Finally, Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.83.

Zai Lab Stock Up 5.2%

The stock has a fifty day moving average of $20.23 and a 200-day moving average of $20.12. The stock has a market cap of $2.22 billion, a PE ratio of -12.07 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Wednesday, April 1st. The company reported ($0.50) earnings per share (EPS) for the quarter. Zai Lab had a negative return on equity of 24.32% and a negative net margin of 39.29%.The company had revenue of $99.61 million for the quarter. Equities research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.07 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Joshua L. Smiley sold 9,614 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $20.39, for a total value of $196,029.46. Following the completion of the sale, the insider owned 120,619 shares in the company, valued at $2,459,421.41. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Yajing Chen sold 5,199 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $20.39, for a total transaction of $106,007.61. Following the completion of the sale, the chief financial officer owned 32,558 shares of the company’s stock, valued at approximately $663,857.62. The trade was a 13.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 46,187 shares of company stock valued at $930,647. Insiders own 4.96% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

An institutional investor recently bought a new position in Zai Lab stock. SG Americas Securities LLC acquired a new stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,754 shares of the company’s stock, valued at approximately $331,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Company Profile

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.