Zai Lab (NASDAQ:ZLAB) Shares Gap Down to $18.75

Zai Lab Limited (NASDAQ:ZLAB)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $18.75, but opened at $18.36. Zai Lab shares last traded at $18.26, with a volume of 10,206 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup cut their price objective on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Tuesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $64.57.

Zai Lab Stock Performance

The company has a 50-day moving average of $18.23 and a 200 day moving average of $20.27.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.93) by $0.38. Zai Lab had a negative return on equity of 40.21% and a negative net margin of 116.45%. The firm had revenue of $87.15 million during the quarter, compared to analysts’ expectations of $77.07 million. During the same period in the previous year, the business earned ($0.51) earnings per share. As a group, analysts predict that Zai Lab Limited will post -2.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the transaction, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Zai Lab news, insider Frazor Titus Edmondson III sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $21.33, for a total transaction of $213,300.00. Following the transaction, the insider now owns 16,408 shares of the company’s stock, valued at $349,982.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the transaction, the insider now directly owns 28,684 shares in the company, valued at approximately $449,478.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,024 shares of company stock valued at $373,828. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Several large investors have recently modified their holdings of ZLAB. Wellington Management Group LLP lifted its stake in shares of Zai Lab by 177.6% in the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock valued at $145,845,000 after purchasing an additional 3,413,829 shares during the last quarter. Capital World Investors lifted its stake in shares of Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after purchasing an additional 465,337 shares during the last quarter. M&G Plc acquired a new position in shares of Zai Lab in the 1st quarter valued at $7,266,000. Janus Henderson Group PLC lifted its stake in shares of Zai Lab by 9.6% in the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock valued at $70,924,000 after purchasing an additional 387,729 shares during the last quarter. Finally, Brilliance Asset Management Ltd. lifted its stake in shares of Zai Lab by 177.5% in the 4th quarter. Brilliance Asset Management Ltd. now owns 435,926 shares of the company’s stock valued at $11,914,000 after purchasing an additional 278,841 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Company Profile

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.