Zai Lab (NASDAQ:ZLAB) Sees Large Volume Increase – Here’s What Happened
by Jessica Moore · The Cerbat GemZai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Get Free Report) saw unusually-strong trading volume on Friday . Approximately 632,305 shares were traded during trading, a decline of 16% from the previous session’s volume of 755,516 shares.The stock last traded at $24.5550 and had previously closed at $23.50.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, January 21st. Zacks Research downgraded Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Cantor Fitzgerald cut their price target on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, UBS Group began coverage on shares of Zai Lab in a research note on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.
View Our Latest Analysis on ZLAB
Zai Lab Stock Up 2.7%
The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -15.00 and a beta of 0.86. The business has a 50 day moving average price of $19.51 and a 200-day moving average price of $21.15.
Zai Lab (NASDAQ:ZLAB – Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The company had revenue of $127.60 million during the quarter. Research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.
Insider Buying and Selling at Zai Lab
In related news, CFO Yajing Chen sold 5,199 shares of Zai Lab stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $20.39, for a total transaction of $106,007.61. Following the sale, the chief financial officer owned 32,558 shares of the company’s stock, valued at $663,857.62. The trade was a 13.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Gaynor acquired 1,731 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was purchased at an average cost of $18.91 per share, with a total value of $32,733.21. Following the completion of the transaction, the director owned 56,630 shares in the company, valued at $1,070,873.30. The trade was a 3.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 46,187 shares of company stock worth $930,647. 4.96% of the stock is currently owned by insiders.
Institutional Trading of Zai Lab
A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada raised its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Free Report) by 214.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,771 shares of the company’s stock after acquiring an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent quarter. 41.65% of the stock is currently owned by institutional investors.
About Zai Lab
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.