Zai Lab (NASDAQ:ZLAB) Trading Up 9.5% – What’s Next?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) traded up 9.5% during mid-day trading on Wednesday . The stock traded as high as $20.45 and last traded at $20.6040. 108,673 shares changed hands during trading, a decline of 85% from the average session volume of 729,722 shares. The stock had previously closed at $18.81.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group began coverage on Zai Lab in a research report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. Finally, Zacks Research lowered shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.00.

Zai Lab Stock Performance

The stock’s 50 day simple moving average is $18.63 and its 200 day simple moving average is $21.91. The firm has a market capitalization of $2.30 billion, a P/E ratio of -12.68 and a beta of 0.86.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Saturday, February 14th. The company reported ($0.50) earnings per share (EPS) for the quarter. Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The firm had revenue of $127.60 million for the quarter. On average, analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Insider Activity

In other news, CFO Yajing Chen sold 1,703 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $18.63, for a total transaction of $31,726.89. Following the sale, the chief financial officer owned 19,999 shares in the company, valued at approximately $372,581.37. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joshua L. Smiley sold 1,966 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $18.63, for a total transaction of $36,626.58. Following the transaction, the insider owned 91,026 shares in the company, valued at $1,695,814.38. The trade was a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,626 shares of company stock worth $123,442. Insiders own 4.96% of the company’s stock.

Institutional Trading of Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. SG Americas Securities LLC grew its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,396 shares of the company’s stock after purchasing an additional 642 shares during the period. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

About Zai Lab

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.