Zai Lab (NASDAQ:ZLAB) Trading Up 5.3%

Zai Lab Limited (NASDAQ:ZLAB) shares shot up 5.3% during mid-day trading on Wednesday . The company traded as high as $16.12 and last traded at $15.92. 95,132 shares changed hands during trading, a decline of 85% from the average session volume of 627,789 shares. The stock had previously closed at $15.12.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Citigroup lowered their target price on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zai Lab presently has an average rating of “Buy” and a consensus price target of $64.22.

Zai Lab Price Performance

The company has a 50 day simple moving average of $17.54 and a 200-day simple moving average of $22.64.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The business had revenue of $65.83 million during the quarter, compared to analysts’ expectations of $70.41 million. As a group, equities analysts expect that Zai Lab Limited will post -3.27 EPS for the current year.

Insider Activity

In related news, CEO Ying Du sold 5,787 shares of Zai Lab stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the transaction, the chief executive officer now directly owns 1,107,972 shares of the company’s stock, valued at $17,893,747.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Zai Lab news, CEO Ying Du sold 5,787 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total value of $93,460.05. Following the completion of the sale, the chief executive officer now owns 1,107,972 shares in the company, valued at approximately $17,893,747.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rafael Amado sold 2,544 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 20,093 shares of the company’s stock, valued at approximately $378,953.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,568 shares of company stock valued at $208,508. 5.23% of the stock is currently owned by company insiders.

Institutional Trading of Zai Lab

Several large investors have recently bought and sold shares of ZLAB. China Universal Asset Management Co. Ltd. grew its stake in Zai Lab by 68.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock worth $33,000 after purchasing an additional 557 shares during the period. Shell Asset Management Co. lifted its holdings in shares of Zai Lab by 8.3% during the third quarter. Shell Asset Management Co. now owns 8,475 shares of the company’s stock valued at $206,000 after purchasing an additional 652 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after purchasing an additional 700 shares in the last quarter. Profund Advisors LLC grew its stake in shares of Zai Lab by 4.9% in the 3rd quarter. Profund Advisors LLC now owns 19,777 shares of the company’s stock worth $481,000 after buying an additional 929 shares during the last quarter. Finally, Sectoral Asset Management Inc. increased its position in Zai Lab by 33.3% during the 4th quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock valued at $109,000 after buying an additional 1,000 shares in the last quarter. 41.65% of the stock is owned by institutional investors.

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.