Zai Lab (NASDAQ:ZLAB) Hits New 52-Week High – What’s Next?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)’s stock price hit a new 52-week high on Monday. The stock traded as high as $29.02 and last traded at $26.9950, with a volume of 339,005 shares trading hands. The stock had previously closed at $25.48.

Analyst Ratings Changes

Several research firms recently issued reports on ZLAB. Citigroup increased their price target on shares of Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Tuesday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a report on Tuesday, October 27th. Finally, Wall Street Zen raised Zai Lab from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zai Lab currently has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Zai Lab Stock Up 6.1%

The stock’s fifty day simple moving average is $24.62 and its 200-day simple moving average is $21.06. The company has a market capitalization of $3.38 billion, a PE ratio of -15.25 and a beta of 0.77.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.18. The business had revenue of $108.21 million for the quarter, compared to analyst estimates of $107.90 million. Zai Lab had a negative return on equity of 31.15% and a negative net margin of 44.91%. Analysts expect that Zai Lab Limited Unsponsored ADR will post -2.37 EPS for the current year.

Insiders Place Their Bets

In related news, Director William Lis sold 8,506 shares of Zai Lab stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $25.00, for a total transaction of $212,650.00. Following the completion of the transaction, the director directly owned 41,931 shares of the company’s stock, valued at approximately $1,048,275. The trade was a 16.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 9,385 shares of company stock valued at $235,145. Company insiders own 4.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC increased its holdings in Zai Lab by 142.0% during the 2nd quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock valued at $1,292,000 after acquiring an additional 39,901 shares in the last quarter. Seven Fleet Capital Management LP raised its position in Zai Lab by 74.7% during the second quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock worth $2,584,000 after acquiring an additional 58,158 shares during the last quarter. WealthPlan Investment Management LLC purchased a new stake in shares of Zai Lab in the third quarter valued at about $969,000. Alps Advisors Inc. lifted its holdings in shares of Zai Lab by 34.9% in the third quarter. Alps Advisors Inc. now owns 148,993 shares of the company’s stock valued at $3,924,000 after purchasing an additional 38,562 shares in the last quarter. Finally, Nan Fung Trinity HK Ltd. grew its position in shares of Zai Lab by 106.9% in the third quarter. Nan Fung Trinity HK Ltd. now owns 293,966 shares of the company’s stock valued at $7,743,000 after purchasing an additional 151,883 shares during the last quarter. 41.65% of the stock is owned by institutional investors and hedge funds.

About Zai Lab

Zai Lab is a biopharmaceutical company that discovers, develops and commercializes medicines for patients with serious diseases. Its research and development programs focus on oncology, immunology, neuroscience and infectious diseases.

Founded in 2014 by biopharmaceutical executive Samantha Du, the company is headquartered in Shanghai and operates in China and the United States. It advances its own drug candidates and works with international partners to develop and bring therapies to market.

Zai Lab’s portfolio includes medicines and development programs for cancers and other conditions, including therapies introduced through licensing and collaboration agreements.