Zai Lab (NASDAQ:ZLAB) Sees Strong Trading Volume – What’s Next?

Zai Lab Limited (NASDAQ:ZLAB) shares saw unusually-strong trading volume on Monday . Approximately 879,580 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 824,697 shares.The stock last traded at $32.76 and had previously closed at $29.54.

Analysts Set New Price Targets

Several brokerages have weighed in on ZLAB. JPMorgan Chase & Co. lifted their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th. Bank of America reissued a “neutral” rating and set a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Finally, Scotiabank began coverage on Zai Lab in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price objective for the company.

Zai Lab Stock Performance

The company has a market cap of $3.33 billion, a P/E ratio of -10.97 and a beta of 1.09. The stock’s fifty day moving average price is $32.88 and its two-hundred day moving average price is $29.18.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The business had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. On average, equities research analysts forecast that Zai Lab Limited will post -2.58 EPS for the current year.

Insider Activity at Zai Lab

In related news, CFO Yajing Chen sold 5,280 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total transaction of $189,499.20. Following the sale, the chief financial officer now owns 25,471 shares of the company’s stock, valued at $914,154.19. This trade represents a 17.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the sale, the chief executive officer now owns 494,117 shares in the company, valued at $17,032,212.99. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,744 shares of company stock valued at $4,685,294 over the last ninety days. 13.88% of the stock is owned by corporate insiders.

Institutional Trading of Zai Lab

Hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. boosted its position in Zai Lab by 2.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 187,747 shares of the company’s stock worth $6,785,000 after buying an additional 4,430 shares during the period. Legacy Wealth Asset Management LLC bought a new position in shares of Zai Lab during the first quarter valued at $805,000. GF Fund Management CO. LTD. acquired a new position in shares of Zai Lab during the fourth quarter worth $29,000. Public Employees Retirement System of Ohio grew its stake in shares of Zai Lab by 20.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company’s stock worth $484,000 after purchasing an additional 3,179 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Zai Lab by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock valued at $1,496,000 after purchasing an additional 1,200 shares during the period. 41.65% of the stock is owned by institutional investors and hedge funds.

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.