Zai Lab (NASDAQ:ZLAB) Hits New 52-Week Low at $14.01

Zai Lab Limited (NASDAQ:ZLAB) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $14.01 and last traded at $14.23, with a volume of 72641 shares trading hands. The stock had previously closed at $14.20.

Wall Street Analyst Weigh In

ZLAB has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup cut their target price on Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $64.22.

Zai Lab Trading Down 4.9 %

The stock has a market capitalization of $1.36 billion, a PE ratio of -3.98 and a beta of 1.10. The stock has a 50 day moving average price of $18.02 and a 200-day moving average price of $22.99.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). The firm had revenue of $65.83 million during the quarter, compared to analysts’ expectations of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. Research analysts forecast that Zai Lab Limited will post -3.1 earnings per share for the current year.

Insider Activity at Zai Lab

In related news, insider Rafael Amado sold 2,544 shares of Zai Lab stock in a transaction on Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now directly owns 20,093 shares in the company, valued at $378,953.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ying Du sold 5,787 shares of Zai Lab stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total transaction of $93,460.05. Following the transaction, the chief executive officer now directly owns 1,107,972 shares in the company, valued at $17,893,747.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rafael Amado sold 2,544 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the sale, the insider now directly owns 20,093 shares in the company, valued at $378,953.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,568 shares of company stock worth $208,508. Corporate insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Several large investors have recently made changes to their positions in the company. 1832 Asset Management L.P. bought a new stake in Zai Lab during the fourth quarter worth approximately $28,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Zai Lab by 68.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after buying an additional 557 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Zai Lab by 58.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after buying an additional 700 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Zai Lab by 45.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock valued at $48,000 after buying an additional 548 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Zai Lab by 1,923.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after buying an additional 2,424 shares during the period. 41.65% of the stock is owned by institutional investors.

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.