Zai Lab (NASDAQ:ZLAB) Shares Gap Up – What’s Next?

Zai Lab Limited (NASDAQ:ZLAB)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $30.62, but opened at $32.48. Zai Lab shares last traded at $31.77, with a volume of 110,580 shares changing hands.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st.

Zai Lab Price Performance

The stock’s 50 day moving average is $25.57 and its two-hundred day moving average is $20.88.

Insider Buying and Selling

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.67, for a total transaction of $72,547.84. Following the completion of the transaction, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZLAB. Capital World Investors raised its position in Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after purchasing an additional 465,337 shares during the last quarter. M&G Plc bought a new stake in Zai Lab during the 1st quarter worth about $7,266,000. Janus Henderson Group PLC raised its stake in shares of Zai Lab by 9.6% in the first quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock worth $70,924,000 after acquiring an additional 387,729 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Zai Lab by 26.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock worth $14,584,000 after purchasing an additional 125,532 shares in the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Zai Lab by 7.3% during the first quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock valued at $25,630,000 after purchasing an additional 108,991 shares during the last quarter. 41.65% of the stock is owned by institutional investors and hedge funds.

Zai Lab Company Profile

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.