Zai Lab (NASDAQ:ZLAB) Shares Up 6.6%

Zai Lab Limited (NASDAQ:ZLABGet Free Report) shot up 6.6% during mid-day trading on Wednesday . The stock traded as high as $20.20 and last traded at $20.16. 126,471 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 670,059 shares. The stock had previously closed at $18.91.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Zai Lab in a research report on Thursday, December 14th. They issued an “overweight” rating and a $47.50 price target on the stock. Citigroup decreased their price target on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Zai Lab from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, November 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $64.22.

Get Our Latest Analysis on Zai Lab

Zai Lab Stock Down 3.2 %

The firm has a 50 day simple moving average of $22.33 and a 200 day simple moving average of $24.75.

Insider Buying and Selling

In related news, CEO Ying Du sold 8,380 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $26.12, for a total value of $218,885.60. Following the sale, the chief executive officer now directly owns 1,133,450 shares of the company’s stock, valued at $29,605,714. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Ying Du sold 8,380 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $26.12, for a total transaction of $218,885.60. Following the transaction, the chief executive officer now directly owns 1,133,450 shares of the company’s stock, valued at $29,605,714. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joshua L. Smiley purchased 4,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were acquired at an average cost of $29.90 per share, for a total transaction of $119,600.00. Following the completion of the acquisition, the insider now owns 20,527 shares of the company’s stock, valued at $613,757.30. The disclosure for this purchase can be found here. 5.23% of the stock is owned by corporate insiders.

Institutional Trading of Zai Lab

Several institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Zai Lab by 177.6% during the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock worth $145,845,000 after acquiring an additional 3,413,829 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Zai Lab during the 4th quarter worth $301,000. Legal & General Group Plc increased its holdings in shares of Zai Lab by 20.1% in the 4th quarter. Legal & General Group Plc now owns 834,457 shares of the company’s stock valued at $22,818,000 after acquiring an additional 139,832 shares during the period. ADAR1 Capital Management LLC purchased a new position in shares of Zai Lab in the 4th quarter valued at $547,000. Finally, Bellevue Group AG purchased a new position in shares of Zai Lab in the 4th quarter valued at $3,714,000. Hedge funds and other institutional investors own 43.65% 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 primarily in Mainland China and Hong Kong. Its commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.

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