Zai Lab (NASDAQ:ZLAB) Shares Gap Down – Here’s What Happened

by · The Cerbat Gem

Shares of Zai Lab Limited (NASDAQ:ZLAB – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $31.52, but opened at $30.74. Zai Lab shares last traded at $30.73, with a volume of 182,986 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on ZLAB shares. JPMorgan Chase & Co. lifted their price target on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Bank of America reiterated 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 restated an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th. Finally, Scotiabank assumed 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.

Read Our Latest Stock Analysis on Zai Lab

Zai Lab Stock Performance

The company has a fifty day moving average of $32.83 and a two-hundred day moving average of $29.17. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of -11.01 and a beta of 1.09.

Zai Lab (NASDAQ:ZLAB – Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The firm had revenue of $109.07 million for the quarter, compared to analyst estimates of $110.15 million. Equities analysts forecast that Zai Lab Limited will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other Zai Lab news, CFO Yajing Chen sold 5,280 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total transaction of $189,499.20. Following the sale, the chief financial officer now directly owns 25,471 shares in the company, valued at $914,154.19. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ying Du sold 50,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 494,117 shares of the company’s stock, valued at $16,029,155.48. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,744 shares of company stock worth $4,685,294 in the last quarter. Corporate insiders own 13.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Large investors have recently modified their holdings of the business. FMR LLC raised its holdings 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 buying an additional 4,830,646 shares in the last quarter. RTW Investments LP acquired a new position in Zai Lab during the fourth quarter worth about $65,714,000. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $61,653,000 after acquiring an additional 548,378 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Zai Lab by 113.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company’s stock valued at $48,788,000 after purchasing an additional 989,664 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Zai Lab during the 4th quarter valued at approximately $46,172,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Company Profile

(Get Free Report)

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.

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