Zai Lab (NASDAQ:ZLAB) Shares Gap Up – Time to Buy?

by · The Markets Daily

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Get Free Report) gapped up prior to trading on Friday. The stock had previously closed at $23.51, but opened at $24.55. Zai Lab shares last traded at $24.0540, with a volume of 196,562 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Zacks Research upgraded Zai Lab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Citigroup raised their price objective on shares of Zai Lab from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Tuesday, October 6th. Finally, Wall Street Zen raised Zai Lab from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.25.

Read Our Latest Stock Analysis on ZLAB

Zai Lab Stock Up 1.9%

The company’s fifty day moving average price is $25.39 and its two-hundred day moving average price is $21.62. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -14.02 and a beta of 0.73.

Zai Lab (NASDAQ:ZLAB – Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $106.31 million during the quarter. Zai Lab had a negative net margin of 41.86% and a negative return on equity of 27.43%. Research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.37 earnings per share for the current year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, Director William Lis sold 8,506 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $25.00, for a total value of $212,650.00. Following the completion of the transaction, the director owned 41,931 shares of the company’s stock, valued at approximately $1,048,275. The trade was a 16.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 9,385 shares of company stock worth $235,145 over the last ninety days. 4.88% of the stock is owned by company insiders.

Institutional Trading of Zai Lab

Hedge funds have recently bought and sold shares of the stock. Nykredit A S purchased a new stake in Zai Lab in the 2nd quarter worth approximately $79,000. WealthPlan Investment Management LLC purchased a new position in Zai Lab during the third quarter valued at approximately $969,000. Headlands Technologies LLC increased its stake in shares of Zai Lab by 142.0% in the second quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock worth $1,292,000 after purchasing an additional 39,901 shares in the last quarter. Finally, Seven Fleet Capital Management LP lifted its stake in shares of Zai Lab by 74.7% during the 2nd quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock valued at $2,584,000 after buying an additional 58,158 shares in the last quarter. Institutional investors own 41.65% of the company’s stock.

Zai Lab Company Profile

(Get Free Report)

Zai Lab Ltd. (NASDAQ: ZLAB) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases with significant unmet medical needs. The company’s research and development activities span oncology, autoimmune and inflammatory disorders, infectious diseases, and neuroscience.

Founded in 2014 by Samantha Du, Zai Lab has built a portfolio through internal research as well as licensing and collaboration agreements with international pharmaceutical and biotechnology companies.

Further Reading