Zai Lab (NASDAQ:ZLAB) Shares Gap Up – What’s Next?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $18.72, but opened at $19.51. Zai Lab shares last traded at $19.7080, with a volume of 120,248 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ZLAB shares. UBS Group initiated coverage on shares of Zai Lab in a research note on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zai Lab has a consensus rating of “Moderate Buy” and an average price target of $53.30.

Zai Lab Price Performance

The firm has a market cap of $2.18 billion, a P/E ratio of -10.02 and a beta of 0.83. The company’s 50-day simple moving average is $19.33 and its 200 day simple moving average is $28.23.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). Zai Lab had a negative net margin of 46.83% and a negative return on equity of 25.83%. The company had revenue of $116.10 million for the quarter, compared to analysts’ expectations of $150.24 million. Analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Insider Activity

In related news, insider Rafael Amado sold 10,787 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total transaction of $188,017.41. Following the completion of the transaction, the insider owned 52,391 shares in the company, valued at $913,175.13. The trade was a 17.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.96% of the company’s stock.

Institutional Trading of Zai Lab

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its stake in Zai Lab by 6.6% in the 4th quarter. SG Americas Securities LLC now owns 10,396 shares of the company’s stock worth $183,000 after acquiring an additional 642 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Zai Lab by 214.3% during the first quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock valued at $498,000 after acquiring an additional 9,390 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Zai Lab in the first quarter valued at approximately $1,073,000. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Company Profile

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.