Zai Lab (NASDAQ:ZLAB) Sees Strong Trading Volume – Here’s What Happened

Zai Lab Limited (NASDAQ:ZLAB) saw unusually-strong trading volume on Friday . Approximately 759,618 shares traded hands during trading, an increase of 12% from the previous session’s volume of 678,831 shares.The stock last traded at $28.38 and had previously closed at $26.67.

Analysts Set New Price Targets

A number of analysts recently weighed in on ZLAB shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price 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 stock has a market capitalization of $2.70 billion, a P/E ratio of -9.77 and a beta of 1.04. The stock’s fifty day moving average price is $26.06 and its 200 day moving average price is $21.10.

Hedge Funds Weigh In On Zai Lab

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after purchasing an additional 904 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Zai Lab in the 3rd quarter worth $225,000. Daiwa Securities Group Inc. grew its position in shares of Zai Lab by 4,851.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after buying an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock valued at $231,000 after buying an additional 3,514 shares during the period. Finally, RBF Capital LLC bought a new stake in shares of Zai Lab in the third quarter valued at about $241,000. 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.