Zai Lab Limited (NASDAQ:ZLAB) Short Interest Up 27.4% in January

Zai Lab Limited (NASDAQ:ZLAB) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 7,710,000 shares, an increase of 27.4% from the January 15th total of 6,050,000 shares. Based on an average daily volume of 807,800 shares, the days-to-cover ratio is currently 9.5 days.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ZLAB shares. Cantor Fitzgerald upgraded Zai Lab to a “strong-buy” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upped their price objective on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 21st.

Insiders Place Their Bets

In related news, insider Rafael Amado sold 7,583 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the transaction, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zai Lab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in Zai Lab in the 4th quarter worth approximately $7,569,000. Barclays PLC grew its holdings in Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company’s stock worth $97,000 after buying an additional 2,856 shares in the last quarter. Townsquare Capital LLC bought a new position in Zai Lab in the 4th quarter worth approximately $243,000. Dymon Asia Capital Singapore PTE. LTD. bought a new position in Zai Lab in the 4th quarter worth approximately $524,000. Finally, Raymond James Financial Inc. bought a new position in Zai Lab in the 4th quarter worth approximately $1,032,000. 41.65% of the stock is owned by institutional investors.

Zai Lab Trading Up 3.0 %

NASDAQ:ZLAB opened at $28.82 on Friday. Zai Lab has a 52 week low of $13.48 and a 52 week high of $36.60. The firm has a market capitalization of $3.15 billion, a PE ratio of -10.40 and a beta of 1.02. The stock has a 50 day moving average of $26.48 and a 200-day moving average of $24.68.

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.