Zai Lab (NASDAQ:ZLAB) Stock Price Down 3.5%

Zai Lab Limited (NASDAQ:ZLAB) shares dropped 3.5% during trading on Monday . The company traded as low as $20.92 and last traded at $21.09. Approximately 42,929 shares changed hands during trading, a decline of 93% from the average daily volume of 617,468 shares. The stock had previously closed at $21.85.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZLAB. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $58.97.

Zai Lab Trading Down 4.3 %

The business has a fifty day moving average price of $18.82 and a 200-day moving average price of $18.04. The stock has a market capitalization of $2.08 billion, a PE ratio of -6.26 and a beta of 1.07.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The business had revenue of $100.50 million for the quarter, compared to analysts’ expectations of $94.46 million. On average, equities analysts anticipate that Zai Lab Limited will post -2.95 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ying Du sold 23,939 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total value of $428,508.10. Following the completion of the sale, the chief executive officer now owns 1,142,833 shares of the company’s stock, valued at approximately $20,456,710.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Zai Lab news, CEO Ying Du sold 23,939 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $17.90, for a total value of $428,508.10. Following the sale, the chief executive officer now owns 1,142,833 shares of the company’s stock, valued at approximately $20,456,710.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Yajing Chen sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total value of $38,556.60. Following the completion of the sale, the chief financial officer now directly owns 13,714 shares in the company, valued at $245,480.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,286 shares of company stock valued at $975,291. 5.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the period. Headlands Technologies LLC bought a new position in shares of Zai Lab during the first quarter valued at approximately $64,000. Sectoral Asset Management Inc. lifted its holdings in shares of Zai Lab by 33.3% during the fourth quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock valued at $109,000 after purchasing an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Zai Lab by 64.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,530 shares of the company’s stock worth $153,000 after purchasing an additional 3,728 shares in the last quarter. Finally, Swedbank AB bought a new stake in Zai Lab in the first quarter worth $244,000. 41.65% of the stock is currently 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.