Zai Lab (NASDAQ:ZLAB) Shares Down 3.3%

Shares of Zai Lab Limited (NASDAQ:ZLAB) dropped 3.3% during mid-day trading on Thursday . The company traded as low as $20.51 and last traded at $20.86. Approximately 92,212 shares changed hands during trading, a decline of 85% from the average daily volume of 623,649 shares. The stock had previously closed at $21.57.

Analysts Set New Price Targets

ZLAB has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $58.97.

Zai Lab Stock Down 0.5 %

The company has a market capitalization of $2.04 billion, a P/E ratio of -5.88 and a beta of 1.07. The firm’s 50-day moving average price is $18.43 and its 200 day moving average price is $18.06.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The company had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. As a group, equities research analysts expect that Zai Lab Limited will post -2.95 EPS for the current year.

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 23,939 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $17.90, for a total transaction of $428,508.10. Following the transaction, the chief executive officer now directly owns 1,142,833 shares of the company’s stock, valued at $20,456,710.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zai Lab news, CFO Yajing Chen sold 2,154 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total value of $38,556.60. Following the transaction, the chief financial officer now owns 13,714 shares of the company’s stock, valued at $245,480.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ying Du sold 23,939 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $17.90, for a total value of $428,508.10. Following the completion of the transaction, the chief executive officer now owns 1,142,833 shares of the company’s stock, valued at approximately $20,456,710.70. The disclosure for this sale can be found here. In the last three months, insiders sold 55,286 shares of company stock valued at $975,291. 5.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Zai Lab

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Zai Lab during the 1st quarter worth approximately $64,000. Sectoral Asset Management Inc. raised its holdings in shares of Zai Lab by 33.3% in the 4th quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock worth $109,000 after purchasing an additional 1,000 shares during the period. Kingsview Wealth Management LLC purchased a new position in Zai Lab in the fourth quarter valued at approximately $202,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Zai Lab by 64.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,530 shares of the company’s stock valued at $153,000 after purchasing an additional 3,728 shares during the period. 41.65% of the stock is owned by hedge funds and other institutional investors.

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.