Short Interest in Zai Lab Ltd (ZLAB) Decreases By 65.0%
Zai Lab Ltd (NASDAQ:ZLAB) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 419,534 shares, a decline of 65.0% from the September 28th total of 1,199,568 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 231,181 shares, the days-to-cover ratio is presently 1.8 days.
ZLAB has been the subject of a number of research analyst reports. BidaskClub raised shares of Zai Lab from a “sell” rating to a “hold” rating in a research report on Thursday, August 30th. Zacks Investment Research raised shares of Zai Lab from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, August 29th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.00.
ZLAB opened at $16.60 on Monday. Zai Lab has a fifty-two week low of $14.29 and a fifty-two week high of $30.16. The firm has a market cap of $964.54 million and a PE ratio of -7.16.
Zai Lab Company Profile
Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.
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