Zai Lab (NASDAQ:ZLAB) Stock Price Down 3.7% – Here’s What Happened

Zai Lab Limited (NASDAQ:ZLAB)’s share price traded down 3.7% on Friday . The stock traded as low as $31.52 and last traded at $31.95. 83,010 shares were traded during mid-day trading, a decline of 87% from the average session volume of 656,801 shares. The stock had previously closed at $33.18.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a report on Friday. JPMorgan Chase & Co. increased their price target on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 21st.

Zai Lab Price Performance

The firm has a market cap of $3.22 billion, a price-to-earnings ratio of -9.28 and a beta of 1.08. The firm’s fifty day moving average is $22.65 and its 200-day moving average is $19.50.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share 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 during the quarter, compared to the consensus estimate of $94.46 million. As a group, equities research analysts anticipate that Zai Lab Limited will post -2.94 EPS for the current year.

Insider Buying and Selling at Zai Lab

In other news, insider Joshua L. Smiley sold 4,352 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total transaction of $72,547.84. Following the completion of the sale, the insider now owns 43,232 shares of the company’s stock, valued at $720,677.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A number of institutional investors and hedge funds have recently made changes to their positions in ZLAB. Capital World Investors increased its position in 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 buying an additional 465,337 shares in the last quarter. M&G Plc bought a new stake in shares of Zai Lab during the first quarter valued at approximately $7,266,000. Russell Investments Group Ltd. raised its position in shares of Zai Lab by 51.1% during the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after purchasing an additional 99,355 shares during the period. Swedbank AB bought a new position in shares of Zai Lab in the 1st quarter worth $244,000. Finally, DCF Advisers LLC bought a new position in shares of Zai Lab in the 2nd quarter worth $528,000. Institutional investors own 41.65% of the company’s stock.

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.