Zai Lab (NASDAQ:ZLAB) Shares Gap Up to $14.07

Shares of Zai Lab Limited (NASDAQ:ZLAB) gapped up before the market opened on Monday . The stock had previously closed at $14.07, but opened at $14.73. Zai Lab shares last traded at $14.91, with a volume of 155,613 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ZLAB shares. Citigroup dropped their target price on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Zai Lab currently has an average rating of “Buy” and a consensus price target of $64.22.

Zai Lab Trading Up 0.9 %

The firm has a 50-day moving average price of $17.70 and a two-hundred day moving average price of $22.73.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The firm had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. Research analysts anticipate that Zai Lab Limited will post -3.1 EPS for the current fiscal year.

Insider Activity at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the sale, the insider now owns 20,093 shares in the company, valued at $378,953.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the sale, the insider now owns 20,093 shares in the company, valued at $378,953.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joshua L. Smiley sold 1,988 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the sale, the insider now owns 28,684 shares in the company, valued at approximately $449,478.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,568 shares of company stock valued at $208,508. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Large investors have recently made changes to their positions in the company. UBS Group AG increased its stake in shares of Zai Lab by 312.4% during the third quarter. UBS Group AG now owns 288,981 shares of the company’s stock worth $7,025,000 after purchasing an additional 218,907 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Zai Lab by 323.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,802 shares of the company’s stock worth $159,000 after purchasing an additional 4,431 shares during the period. Bamco Inc. NY increased its stake in shares of Zai Lab by 4.5% during the third quarter. Bamco Inc. NY now owns 1,579,349 shares of the company’s stock worth $38,394,000 after purchasing an additional 67,288 shares during the period. Nomura Holdings Inc. bought a new position in shares of Zai Lab during the third quarter worth approximately $1,169,000. Finally, XY Capital Ltd bought a new position in shares of Zai Lab during the third quarter worth approximately $3,397,000. Institutional investors own 41.65% of the company’s stock.

About Zai Lab

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.